SoftBank picking its battles with U.S. national security committee
April 12, 2019 / Heather Somerville
These maneuvers come as the Japanese investor confronts a new U.S. law aimed at cracking down on foreign investors. SoftBank’s investment style has made it a frequent visitor of a U.S. government group known as the Committee on Foreign Investment in the United States (CFIUS), charged with reviewing foreign investment for national security and competitive risks. “We know the deals are going to be reviewed,” Marcelo Claure, chief operating officer of SoftBank Group Corp, said in an interview with Reuters this week. “We have abided by what the U.S. government wants.” SoftBank likes to take large stakes in companies working on artificial intelligence, data analytics, financial services and self-driving cars - technologies increasingly viewed as critical to national security. This puts them in the crosshairs of a law signed by U.S. President Donald Trump last year expanding the powers of CFIUS.