The British government is to undertake a national security review of a takeover of a semiconductor factory in Wales by the Dutch arm of a Chinese company, the Financial Times reported, putting in doubt the future of the UK’s biggest microchip company that employs about 450 people.
Business secretary Kwasi Kwarteng said the acquisition of Newport Wafer Fab by Nexperia, a subsidiary of China’s Wingtech, would face an investigation under the new National Security and Investment Act. “We welcome overseas investment, but it must not threaten Britain’s national security,” Kwarteng said.
Read the full report: Financial Times.
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