January 24, 2018 / 7:42 AM / 9 months ago

SoftBank looks to raise more debt using ARM, Uber stakes: The Information

(Reuters) - Japan’s SoftBank Group Corp (9984.T) is in talks with banks to raise as much as $5 billion in new debt by using its UK unit ARM Holdings as collateral, The Information website reported, citing people familiar with the matter.

FILE PHOTO: A man talks on the phone as he stand in front of an advertising poster of the SoftBank telecommunications company in Tokyo October 16, 2015. REUTERS/Thomas Peter/File Photo

SoftBank Group is also considering how to use its newly acquired 15 percent stake in ride-hailing firm Uber Technologies Inc [UBER.UL] to raise additional capital, although it is not clear if Uber would allow it, the website reported, citing a person familiar with the matter. bit.ly/2F9mPtU

The new funds would be in addition to billions of dollars which SoftBank has access to through the Vision Fund, the Information said.

Earlier this month, SoftBank closed a deal with Uber at a discounted valuation of $48 billion for the U.S. firm and became its largest stakeholder.

SoftBank had bought ARM, Britain’s most valuable technology company, for $32 billion in 2016.

A SoftBank spokesman declined to comment.

Reporting by Shubham Kalia in Bengaluru and Sam Nussey in Tokyo; Editing by Gopakumar Warrier

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