HomeChina Stock News Market hearsay: SMIC in talks to acquire Chinese IC provider
Market hearsay: SMIC in talks to acquire Chinese IC provider
Written by Administrator
Tuesday, 04 September 2007
BEIJING, Sept. 4 (InfoChina) – Market hearsay goes that Semiconductor Manufacturing International Corp. (NYSE: SMI, HK: 0981) is negotiating with Shanghai Hua Hong NEC Electronics Company, Limited, a Chinese IC provider, for acquiring equities of the latter.
No response has so far been heard from either SMIC or Hua Hong NEC with regard to the hearsay.
China Business News reported that SMIC was “illogical” to acquire Hua Hong NEC since SMIC’s present focus is the operation of its two 12-inch chip foundries rather than drawing out capital to do something else.
For raising more capital, SMIC in March ever tried to sell 20 percent of its equities to Morgan Stanley and Deutsche Bank but was stagnated by divergent opinions in its board of directors. (Edited by Lin Fanjing,
)
China Stock News 
