MP urges action over sale of UK tech Arm to US rival Nvidia

Labour MP Daniel Zeichner wants ministers to intervene in the £30bn sale of Arm

Labour MP Daniel Zeichner wants ministers to intervene in the £30bn sale of Arm

Labour MP Daniel Zeichner wants ministers to intervene in the £30bn sale of Arm

Pressure is mounting on ministers to intervene in the £30billion sale of Britain’s largest tech company Arm.

Daniel Zeichner, the Labour MP for Cambridge, where Arm is based, urged them to step in before the firm is ‘thrown away’ to US rival Nvidia. 

He said it was important to protect the 3,000 skilled jobs at Arm, and said it must be exempted from US rules on where products can be exported to.

Zeichner said: ‘[Ministers] cannot simply nod this through and hand over decision-making power to a foreign state. 

‘It is bad for our economy, bad for national security, as well as being incomprehensible tactically ahead of trying to strike a trade deal. It’s weak, feeble and foolish.’

The Government is to review whether there are grounds to intervene as critics called for the deal to be referred to the competition watchdog.

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