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UK orders China-registered firm to sell stake in Scottish chip company

by Uma Rajagopal
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2024 11 06T171655Z 1 LYNXMPEKA50

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)