“Following a detailed national security assessment, the Secretary of State for Business, Energy and Industrial Strategy (Grant Shapps) decided to issue a final regulation mandating Nexeria to sell at least 86% of Fab Newport Wafers“, said an executive spokesperson in a statement.
This decision was made “to protect against potential harm to national security”the statement added.
In his official briefing, Shapps pointed out that there is a risk that “technology and know-how (…) could harm the capabilities of the United Kingdom.”
Dutch company Nexperia, owned by the Chinese mobile technology giant wingtech, completed the acquisition of Newport Wafer Fab in July 2021, after paying an undisclosed amount.
The announcement that London is obliging Chinese companies to sell their shares comes at a time of heightened tensions between Britain and China, which were exacerbated after the arrival of the new British prime minister, Rishi Sunak.
British authorities have banned Chinese giant Huawei in 2020 from deploying 5G networks in UK territory.
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