off-the-wire

London Stock Exchange says Arm's UK snub 'shows need for reform'

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, March 3 (Reuters) - The London Stock Exchange
said on Friday that the decision by chip designer Arm to pursue a U.S.-only listing rather than return to London's stock market showed the need for Britain to make "rapid progress" on reform. "Arm is a great British company and a world leader in their field which we continue to believe can be very well served by the UK capital markets," said Julia Hoggett, chief executive of London Stock Exchange plc, part of London Stock Exchange Group .


"The announcement demonstrates the need for the UK to make rapid progress in its regulatory and market reform agenda, including addressing the amount of risk capital available to drive growth." (Reporting by Iain Withers, Editing by Louise Heavens)

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