Philip Hammond has distanced himself from Arm's sale to Japanese private equity six years ago despite helping to seal the firm's fate. But in a U-turn, Hammond has washed his hands of the £24billion deal, which resulted in the chip designer being taken private and removed from the London stock exchange. But Russ Shaw, founder of Tech London Advocates, said: 'I can't believe Hammond has distanced himself from the deal, it was his responsibility. The Daily Mail has launched a campaign to Back British Tech and for Arm to return to the London stock market. The Japanese giant tried to sell Arm to US chip giant Nvidia but the deal fell through two weeks ago.

Source: Daily Mail February 19, 2022 00:04 UTC