Sept 26 (Reuters) - Arm Holdings approached

Intel ( INTC ) about potentially acquiring the company's product

division but was told that the business is not for sale,

Bloomberg News reported on Thursday.

The British chip firm did not express interest in Intel's ( INTC )

manufacturing operations, the report added, citing a person

familiar with the matter.

The report did not mention any financial details, nor did it

say whether the talks are still ongoing or have been abandoned.

Arm declined to comment on the report, while Intel ( INTC ) did not

immediately respond to a request for comment outside regular

business hours.

Once the dominant force in chipmaking, Intel ( INTC ) ceded its

manufacturing edge to Taiwanese rival TSMC and failed

to produce a widely desired chip for the generative AI boom

capitalized on by Nvidia ( NVDA ) and AMD.

Qualcomm has also approached Intel ( INTC ) to explore a potential

acquisition of the troubled chipmaker, Reuters reported earlier

this month, in what could be a transformational deal in the

sector.

Intel ( INTC ) has been attempting to turn its business around by

focusing on AI processors and creating a chip contract

manufacturing business, known as a foundry.

The company plans to pause construction on factories in

Poland and Germany, and reduce its real estate holdings.