(Reuters) - Japan’s SoftBank Group Corp (9984.T) is in talks with banks to raise as much as $5 billion (3.56 billion pounds) in new debt by using its UK unit ARM Holdings as collateral, The Information website reported, citing people familiar with the matter.
SoftBank Group is also considering how to use its newly acquired 15 percent stake in ride-hailing firm Uber Technologies Inc [UBER.UL] to raise additional capital, although it is not clear if Uber would allow it, the website reported, citing a person familiar with the matter. bit.ly/2F9mPtU
The new funds would be in addition to billions of dollars which SoftBank has access to through the Vision Fund, the Information said.
Earlier this month, SoftBank closed a deal with Uber at a discounted valuation of $48 billion for the U.S. firm and became its largest stakeholder.
SoftBank had bought ARM, Britain’s most valuable technology company, for $32 billion in 2016.
A SoftBank spokesman declined to comment.
Reporting by Shubham Kalia in Bengaluru and Sam Nussey in Tokyo; Editing by Gopakumar Warrier