Question to the Department for Digital, Culture, Media & Sport:

To ask the Secretary of State for Digital, Culture, Media and Sport, whether he is seeking a legally binding exemption from Export Administration Regulations or Office of Foreign Assets Control regulations for the sale of ARM from Softbank to Nvidia.

As provided in previous parliamentary responses, ARM is an important part of the UK's tech sector and makes a significant contribution to the UK economy. While acquisitions are primarily a commercial matter for the parties concerned, the Government monitors these closely. When a takeover may have a significant impact on the UK we will not hesitate to investigate further and take action. We are scrutinising the deal carefully to understand its impact on the UK. The Enterprise Act 2002 allows the government to call in transactions such as this. We will consider if and when it would be appropriate to do so.