Taiwan Approves TSMC's Purchase of SMIC Stake
Sina Tech, 6/29/10
According to Taiwanese media reports, Taiwan's Ministry of Economic Affairs has approved the application by the Taiwan Semiconductor Manufacturing Company (TSMC) to acquire an 8% stake in China's Semiconductor Manufacturing International Corporation (SMIC) (NYSE: SMI, 0981.HK), becoming the first Taiwanese vendor to be approved for investment in a Mainland Chinese 12-inch wafer producer.
TSMC said it would not take a hand in SMIC's operations management.
Editor's Note: TSMC was awarded the right to acquire a total 10% of SMIC as part of a lawsuit in March; see "TSMC Applies to Take SMIC Stake," 3/29/10 issue.
Keywords: hardware semiconductor 12-inch SMI SMIC TSMC 0981.HK M&A
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