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"Did 'China' Just Buy The Most Important Company In The World?"
zerohedge.com
In the aftermath of last night stunning announcement that Japan's Internet giant SoftBank would acquire UK-based ARM Holdings, a company which makes chips present in virtually every mobile and "connected" device, for $32 billion, sending the semiconductor sector surging, questions emerged why the company is doing this...
Bloomberg gave the trivial answer first thing this morning in a piece titled 'Why SoftBank Is Spending $32 Billion on U.K. Chip Designer ARM", which concluded the following: "Softbank Chairman Masayoshi Son sees ARM’s future in being inside the legion of products that are becoming internet-connected, from street lamps to air conditioners, washing machines to drones -- so-called “internet of things" devices."
Perhaps. However, a more provocative explanation has emerged courtesy of SouthBay Research, which when looking at the same deal, asks if China (yes China) "just acquired the most important company in the world? "...
Softbank = China
Softbank is a Japanese company best known for owning Yahoo Japan and Sprint.
With their background in telecommunications and the internet, why would they want to buy a major semiconductor company? And why, with $89B in debt, is Softbank adding another $31B?
The answer: Softbank is not what they appear. What isn't as well known is that Softbank is actually a major player in China's internet economy.
For starters, they bankrolled Alibaba. They control 32% of Alibaba, and through Alibaba, they dominate the Chinese internet economy because Alibaba has invested in the top internet companies in China: Weibo, for example.
Although based in Japan, Softbank is very much a Chinese company.
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