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SoftBank's Masayoshi Son says to carry on with deals despite trade jitters

Reuters  |  SUN VALLEY, IDAHO 

By O'Donnell

SUN VALLEY, (Reuters) - Corp CEO said on Tuesday he was optimistic that U.S. Donald Trump's escalation of trade disputes and heightened scrutiny of foreign investments would not affect the Japanese firm's prolific dealmaking.

has been slapping trade tariffs on Chinese goods and blocking Chinese investments in the it deems a threat to U.S. national security.

SoftBank, which has links to through investments such as Alibaba Group Holding Ltd, has seen its U.S. deals facing protracted regulatory reviews as a result.

"Our investments are innocent," Son told reporters in Sun Valley, Idaho, where is hosting an annual get-together for technology, and

SoftBank and its Vision Fund, the world's largest fund which in May last year raised over $93 billion, have made many investments in U.S. technology firms, including ride-hailing firm and share-office space firm The fund has raised tens of billions of dollars from sovereign wealth funds in and the

Last year, SoftBank bought Fortress https://com/article/us-fortress-inv-glo-m-a-softbank-group/softbank-to-buy-fortress-investment-for-3-3-billion-idUSKBN15T333 Investment Group but agreed to run the firm at an arm's length to win permission from the Committee on Foreign Investment, a U.S. national security panel, to proceed with the acquisition.

Son also told reporters on Tuesday he was not interested in doing any "traditional media" acquisitions, even as U.S. is looking for partners to strengthen its bid for that has agreed to sell to

Son said he is instead going to continue to focus on the areas where SoftBank has made some of its biggest investments, including artificial intelligence, the Internet of Things, robotics and ride sharing.

(Reporting by O'Donnell in Sun Valley, Idaho; Editing by Himani Sarkar)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 11 2018. 11:37 IST