The sale of ARM holdings to an American company should give the government more than concern.
ARM is a genuinely world-class company by any measure and the sale to Japanese Softbank in 2016 was was one of the criminal acts of the decade. Now "in trouble" Softbank want to offload ARM at a modest profit to American Nvidia. Although maybe not the right time, the UK Government should block this sale on the following grounds.
- Britain needs to hold on to its high tech world-leading companies to create the wealth that will be required to pay off debt and secure a future for the next generations.
- ARMs customers are indeed worldwide and currently not subject to any political issues or trade wars.
- American politics can quite easily affect ARMs current markets and specific customers like the Chinese giant Huawei.
- Any promises regarding jobs or investment in the UK are meaningless unless there are legal safeguards.
- ARMs ownership should come back into the hand of British investors with the government taking a large share of the stock - a revenue flow that would help service our national debt.