SoftBank CEO Son set to travel to South Korea to discuss Arm tie-up with Samsung
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SoftBank (OTCPK:SFTBY) Chief Executive Officer Masayoshi Son is slated to travel to South Korea next month to discuss a strategic tie-up between its chip design unit Arm and Samsung (OTCPK:SSNLF).
In a public statement at the JCI World Congress, Son said that he intends to visit Korea, the first time he's done so in three years. " Iâd like to talk with Samsung about a strategic alliance with Arm," he added.
Late on Wednesday, Reuters reported that Samsung Electronics (OTCPK:SSNLF) Vice chairman Jay Y. Lee said Son may "make a proposal," citing South Korean wire service News1.
Samsung (OTCPK:SSNLF) confirmed Son's visit in a statement obtained by the Financial Times, but a company executive said they were not sure what Son meant when he said "strategic alliance."
âA strategic alliance is a vague and broad term,â the executive said. âIf he offers to sell Arm to us, we will have to consider it on a general basis.â 
Tokyo, Japan-based SoftBank (OTCPK:SFTBY) did not immediately respond to a request for comment from Seeking Alpha.
SoftBank (OTCPK:SFTBY) has previously said it would list Arm in an initial public offering in the U.S., likely on the Nasdaq, but intends to keep a majority stake in the British chip design firm it bought for $32B in 2016.
Earlier this year, SoftBank (OTCPK:SFTBY) was considering a dual listing for Arm in both New York and London, but has recently shelved that idea.
SoftBank (OTCPK:SFTBY) previously attempted to sell Arm to Nvidia (NASDAQ:NVDA), but the Jensen Huang-led Nvidia (NVDA) called off its deal to acquire the company earlier this year after antitrust regulators from around the world expressed concern over the deal.
In March, Huang said that Nvidia (NVDA) would have loved to own Arm, calling it "a one of a kind asset."
Earlier this month, it was reported that SoftBank (OTCPK:SFTBY) is considering starting a third Vision Fund after the poor results of its earlier funds.