Trade Secretary Grant Shapps on Wednesday vetoed the acquisition of Britain’s largest chipmaker, Newport Wafer Fab, by Nexperia, government sources said. The reason for the decision is a comprehensive assessment of national security.
Shapps has instructed Nexperia to sell at least 86 percent of the shares in the Welsh semiconductor company to avert potential threats to national security, a government spokesman said.
The company Nexperia is based in the Netherlands but is owned by the Chinese smartphone manufacturer Wingtech. Nexperia bought Newport Wafer Fab last July.
The purchase of one of the UK’s leading industrial companies by a Chinese company has been widely criticized in the UK amid rising tensions between London and Beijing. (sda/afp)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
