Grant Shapps has blocked the sale of a UK microchip manufacturer to a Chinese-owned company, citing a potential risk to national security.
Newport Wafer Fab is one of the UK’s largest manufacturers of semiconductors and there was concern over its reported £63 million purchase by Nexperia –a company said to be linked to the Chinese Communist Party.
A government spokesperson said: “Following a detailed national security assessment, the Business Secretary has decided to issue a Final Order requiring Nexperia to sell at least 86 per cent of Newport Wafer Fab to prevent against potential national security risks.”
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