SAN FRANCISCO (Reuters) – SoftBank Group Corp has agreed to give up board seats and access to sensitive information, take a more passive role in startups and make other concessions to get government clearance for its technology deals in the United States.
FILE PHOTO: Sprint Executive Chairman Marcelo Claure testifies before a U.S. House Committee on Energy and Commerce Subcommittee hearing in Washington, U.S. February 13, 2019. Claure is now the chief operating officer of SoftBank Group Corp. REUTERS/Erin Scott/File Photo
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),