No suggestion from Softbank about Samsung investing in Arm, say reports

According to the Korean newspaper JoonAng, Softbank CEO Masa Son did not make any suggestion that Samsung should buy, or invest in, Arm when they met earlier this week.

Earlier Samsung’s Vice Chairman, Jay Y. Lee, had said that Son “may make a proposal” at the meeting.

Arm CEO Rene Haas was also at the meeting, reports JoonAng.

Son had said earlier he would like to see Samsung engage in a strategic alliance with Arm.

There has been speculation that Son is looking to recruit members of a consortium to either buy Arm or take up pre-IPO stakes in the company.

SoftBank has $140 billion debts and is haemorrhaging cash – losing $22billion in the April-June quarter – and is keen to see a return on its $32 billion investment in Arm.