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The UK Prime Minister has announced a review of the takeover of the country's largest chip facility

The UK Prime Minister has announced a review of the takeover of the country's largest chip facility



Now while the world has entered peak semi conduct or chip shortage uh britain has sold its largest chip producer to the dutch firm owned by a chinese company uk prime minister boris johnson has announced a review of the takeover by his national security advisor but at the same time he has stressed that he does not want to drive chinese investment away from britain because of anti-china spirit raising concerns over the deal during the session of parliament's liaison committee member of uk parliament his country tom johnson whether the sale of the nation's biggest semiconductor maker to chinese owned company would go ahead and why the deal doesn't trigger a review under the national security and investment act he heads an informal group of the mps aiming for a tougher stance on policy with china let's just listen in as johnson boris johnson responds to the questions from conservative lawmakers if i may there is a difference between investment which is looking for a normal return to the purchase of technology and what we're seeing here from xperia which as you know is a company that is mostly owned actually by a chinese state bank firm we're seeing a chinese state-backed entity buying a semiconductor manufacturer at a time of global shortage when beijing is already looking for to stockpile semiconductors now if china thinks this is a matter of their national security and essential to their sovereignty if italy if brussels if the united states if other countries agree and other entities agree why don't you don't forget this is the government when i came in we took the very difficult and painful step and greg will know all about this because you were i think business actually had to deal with this uh we took a very difficult and painful step of having to dis extricate this country from what from the far away i remember rebellion so so so this uh government is spending a huge quantity of taxpayers money uh to make sure that we uh get huawei out of our telecommunications uh networks or out of the critical uh prime minister you're going over history now because we i do not want us and i do not want uh anti-china spirit to lead to us trying to pitch fork away sir bernard every investment from china into this country now earlier this week the netherlands based in xperia completed the purchase of the wales-based newport wafer fab for an undisclosed amount xperia is owned by china's smartphone giant wing tech the deal that took place amid growing scrutiny of chinese companies overseas investments has sparked widespread outcry with increasingly strained relations between london and beijing the takeover has also attracted skepticism due to a global shortage in semiconductors boris johnson's government had decided it to be inappropriate to intervene but later johnson said that the sale would be proved the transaction has reignited debate over china's push into strategically important sectors and countries around the world after u.s concerns about spying london last year banned chinese telecom giants hawaii who are away from involvement in the rollout of britain's superfast 5g broadband network now washington has bad huawei from the huge american market branding it as a security threat.

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