00:00SoftBank Group is taking a $2 billion equity stake in Intel.
00:04The two companies said on Monday amid a ramp-up in efforts to provide financial support to the struggling U.S. chipmaker.
00:11The Japanese investment company will pay $23 per share for Intel common stock, they say in a joint statement.
00:17SoftBank would become the sixth largest investor in Intel, according to LSEG data.
00:22SoftBank's investment will come via a primary insurance of common stocks by Intel,
00:27and based on the U.S. company's market's capitalization at close of trading on Monday would represent an equity stake of just under 2%, an Intel spokesperson said.
00:37Bloomberg News reported earlier on Monday that the U.S. government is in talks to take a 10% stake in Intel.
00:43This comes after U.S. President Donald Trump called for the resignation of the company's CEO, Leopold Tan, earlier this month.
00:50Media reports have said last week that the U.S. government may buy a stake in Intel.
00:55After a meeting between Tan and Trump that was sparked by the U.S. president's demand for the Intel chief's resignations over his ties to Chinese firms,
01:05SoftBank declined to provide more details on the Intel investment when asked to comment by Reuters.
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