SoftBank Group signed an agreement to make a $2 billion investment in American chipmaker Intel, the two companies said in a joint statement on Monday.
As per the agreement, the Japanese company said it will pay $23 per share in Intel common stock.
Bloomberg News reported earlier on Monday that the US government is in talks to take a 10% stake in Intel. This comes after President Trump called for the resignation of the company’s CEO Lip-Bu Tan earlier this month.
Media reports had said last week that the US government may buy a stake in Intel, after a meeting between CEO Lip-Bu Tan and President Donald Trump that was sparked by Trump’s demand for the new Intel chief’s resignation over his ties to Chinese firms.
Intel did not immediately respond to a Reuters request for comment, while SoftBank said it could not add further details beyond what’s in the release.
Reuters
