SoftBank to invest $2 bil. in Intel to become top-10 shareholder

SoftBank Group is taking a $2 billion equity stake in Intel, the two companies said on Monday, amid a ramp-up in efforts to provide financial support to the struggling U.S. chipmaker. The Japanese investment company will pay $23 per share for Intel common stock, they said in a joint statement. SoftBank would become the sixth largest investor in Intel, according to LSEG data. SoftBank's investment will come via a primary issuance of common stock by Intel, and, based on the U.S. company's market capitalisation at close of trading on Monday, would represent an equity stake of just under 2 percent, an Intel spokesperson said. Bloomberg News reported earlier on Monday that the U.S. government is in talks to take a 10 percent stake in Intel. This comes after U.S. President Donald Trump called for the resignation of the company's CEO Lip-Bu Tan earlier this month. Media reports had said last week that the U.S. government may buy a stake in Intel, after a meeting between Tan and Trump that was sparked by the U.S. president's demand for the Intel chief's resignation over his ties to Chinese firmsWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times