Japanese conglomerate SoftBank has called off its planned sale of UK microchip designer Arm to US technology group Nvidia.
When the deal was freshly announced in September 2020 it worth at around $40bn (£29.6bn).
SoftBank now aims to float Arm's shares on the stock market by the end of March next year.
The planned sale had faced major regulatory hurdles in the UK, United States and European Union.
SoftBank and Nvidia were in accord to end their sale agreement "because of significant regulatory challenges preventing the consummation of the transaction, despite good faith efforts by the parties," the companies said in a joint statement to investors.
"We will take this opportunity and start preparing to take Arm public, and to make even further progress," SoftBank's chief executive Masayoshi Son added.
SoftBank did not give any other details about Arm's planned stock market listing, which has sparked speculation amongst investors over which stock exchange, or exchanges, will be chosen for the sale.
The statement also said that, in line with the agreement signed by both firms in 2020, SoftBank would keep a $1.25bn non-refundable deposit paid by Nvidia.
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