Chip designer’s co-founder says deal is ‘absolute disaster’ that will lead to UK job losses

One of Britain’s most successful tech companies, Arm Holdings, is being sold by its Japanese owners for $40bn in a deal that could reshape the semiconductor landscape.

Nvidia, a US company, will pay SoftBank $21.5bn in shares and $12bn in cash for the chip designer although the deal is still subject to regulatory approval in the UK and could face opposition from its new owners’ rivals.

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