Samsung Electronics has denied any interest in buying a stake in ARM, the chip design company owned by SoftBank.

August 4 (UPI) — On Tuesday, Samsung Electronics denied any intention to buy a small stake in ARM, the chip design company of SoftBank Group, according tomedia reports. Earlier, media reports said Samsung Electronics was interested in buying a minority stake in ARM 3 to 5 per cent to reduce royalties. In response, the company said the report was “baseless.”

Samsung Electronics has denied any interest in buying a stake in ARM, the chip design company owned by SoftBank.

SoftBank bought ARM in 2016 for $32 billion, the biggest acquisition it has ever made.

In June, Apple announced plans to move away from Intel chips in its new Mac computers and instead use its own ARM-based Mac chips, designed to deliver better performance at lower power consumption.

In mid-July,media reported that SoftBank was considering selling some or all of ARM’s shares or allowing ARM to make an initial public offering in the early stages of Apple’s transition to ARM chips.

In late July, people familiar with the matter said Nvito was interested in buying ARM. Recently, people familiar with the matter revealed that the two companies are currently in in advanced talks over a takeover deal worth more than $32 billion.

Last week,media reported that SoftBank would continue to hold ARM’s stake even if it sold a stake in ARM to Nvida or allowed ARM to make an initial public offering.

SoftBank is also understood to have approached Apple to assess its interest in ARM, but the company has no plans to make an offer. (Little Fox)