SoftBank’s Arm sale hits a snag as UK opposition party warns of risks

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The U.K.’s opposition Labour party said this week that an Arm takeover is not in the public interest and criticized the ruling Conservative Party for failing to protect the British chip designer — often hailed as one of the nation’s most innovative firms — from overseas predators.

Arm’s chips are used by companies around the globe to power millions of electrical devices. Apple uses them in iPhones and iPads, while Amazon uses them in Kindles, and car manufacturers use them in vehicles. The company has 6,000 staff globally and 3,000 of those are in the U.K.

Ed Miliband, the shadow business secretary, warned that an Arm takeover by a Silicon Valley firm would ultimately lead to U.K. jobs moving overseas.

A government spokesperson said that Downing Street monitors proposed acquisitions closely. “Where we feel a takeover may represent a threat to the UK,

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