UK government asks Chinese-owned company to sell 86% of its interest in UK-based semiconductor company
UK government orders Chinese-owned company to sell 86% stake in UK semiconductor firm due to national security concerns, despite company’s denial of security risks.
The UK Secretary of State for Business, Energy and Industrial Strategy has issued an order requiring the owner of the Newport Wafer Fab – a UK chipmaking facility – to sell off at least 86% of its interest in the fab. In July 2021, the facility was sold to the Dutch company Nexperies, which is a subsidiary of the Chinese company Wingtech Technology. The order was described as ‘necessary and proportionate to mitigate [a] risk to national security’. Nexperia denied the security concerns raised by the UK government.
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