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UK orders full national security review for Chinese takeover of semiconductor maker Newport Wafer Fab

May 26, 2022
Source: scmp.com scmp.com
News Snapshot:
Britain’s business secretary has ordered a full national security assessment of the £63 million (US$79 million) acquisition last year of the country’s biggest semiconductor maker by Nexperia, a Dutch subsidiary of China’s Wingtech Technology. The inquiry comes after media reports in April stating the British government would not intervene in the deal following a separate review by national security adviser Stephen Lovegrove. A government spokesman said at the time that “no decisions have been made”. “We welcome overseas investment, but it must not threaten Britain’s national security,” Business Secretary Kwasi Kwarteng said in a tweet on Wednesday. Today, I called-in...
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