Arm listing delay shows Conservative Party chaos is threatening UK high tech manufacturing

SoftBank, which owns chip manufacturer Arm, has said that due to uncertainty in UK politics with the ongoing leadership election, it is delaying listing Arm on the London stock exchange.

 

Mike Clancy, General Secretary of Prospect, responded:

“Chaos in the Conservative Party is threatening Britain’s high-tech design and manufacturing future. Arm is a jewel in the crown of the UK’s semiconductor industry and Softbank listing it in London would show real confidence in the UK’s leadership in this critical industry.

“The Prime Minister may be handing over to a successor at the end of the summer, but the country must be governed in the meantime. The Government must get a grip and do all it can to see Arm listed in London.”