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UK orders China-registered firm to sell stake in Scottish chip company
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LONDON (Reuters) – The British government on Wednesday ordered China-registered
LONDON (Reuters) – The British government on Wednesday ordered China-registered Future Technology Devices International Holding Ltd to sell 80.2% of Scotland-based chip company FTDI over national security risks.
“The order has the effect of requiring FTIDHL to sell 80.2% of FTDI within a specified period and by following a specified process,” the government said in a statement.
The government said it was concerned that the UK-developed semiconductor technology and associated intellectual property could be deployed in ways that were contrary to UK national security.
(Reporting by Muvija M; Editing by Paul Sandle)
Semiconductor technology involves materials and processes used to create electronic components like transistors and diodes. These components are essential for modern electronics, including computers, smartphones, and other digital devices.
Foreign investment occurs when individuals or companies from one country invest in assets or businesses in another country. This can include purchasing stocks, real estate, or establishing business operations abroad.
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