Great Britain examines chip manufacturer’s sale to Chinese company | Business news

0
42

[ad_1]

The British security advisor is examining the sale of a large British chip manufacturer to a Chinese company.

prime minister Boris Johnson said he had asked Sir Stephen Lovegrove to consider Nexperia’s purchase of Newport Wafer Fab.

Mr. Johnson said, “We need to assess whether the material they make has real value and interest in intellectual property Chinawhether there is any real impact on safety.

“I asked the National Security Advisor to look at it.”

The Prime Minister appears on the Liaison Committee
Picture:
The Prime Minister said he did not want to see an “anti-Chinese spirit”

But the Prime Minister told MPs that he did not want an “anti-Chinese spirit” leading to “trying to crowd out any investment from China in this country.”

Mr Johnson announced the intervention when questioned by members of a parliamentary committee on Wednesday.

Nexperia said Monday that it completed its acquisition of Newport Wafer Fab on a deal that would secure jobs in the south Wales Page? ˅.

The Chinese company Wingtech Technology holds a majority stake in the Dutch company Nexperia.

There comes a time when the shortage of semiconductor chips is holding back businesses around the world, with automakers and retailers especially reporting Difficulties.

Bankers will celebrate a huge £ 206.7 million payday due to Japanese Softbank's acquisition of British technology ARM.
Picture:
The government previously intervened in the sale of Arm Holdings

Conservative MP Tom Tugendhat told the Prime Minister, “We are seeing a Chinese state-backed company buy a semiconductor manufacturer in a time of global scarcity while Beijing is already stocking up for semiconductors.

“If China thinks this is a matter of national security and essential to its sovereignty, if Italy, if Brussels, if the United States, if other countries and other entities agree, why not?”

The Prime Minister said, “I think semiconductors are very important to this country.”

Mr Johnson said the Welsh government had asked Whitehall “to look into” – although this was denied by Mark Drakeford’s administration in Cardiff.

Earlier this year the government intervened on the planned sale of British chip maker Arm Holdings worth 40 billion

Meanwhile, in both the UK and the US, concerns over Chinese involvement in key areas of the economy have grown in recent years.

Last year the government changed its policy towards telecommunications companies HuaweiParticipation in the introduction of the UK 5G infrastructure, announce that its devices must be taken off the grid by 2027.

Subscribe to the Into The Gray Zone podcast on Apple Podcasts, Spotify

[ad_2]

Source link

Thank You For Visiting. Please Support This Site By SHARING And Following Us In The Social Networks.

Leave a Comment