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Companies

SoftBank's Arm cedes control of China operations to local joint venture

Chipmaker's move allows Beijing to secure technology as US bans ZTE

SoftBank Group, led by Chairman and CEO Masayoshi Son, purchased Arm Holdings in 2016 for $32 billion.   © Reuters

TAIPEI -- British chipmaker Arm Holdings, a SoftBank Group subsidiary, will cede control of its Chinese operations to a new joint venture involving itself and Chinese partners, people with familiar with the matter said.

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