Foreign Affairs Committee Chair Sounds Alarm Over ‘Stealth’ Chinese Purchase of Cambridge Chip Startup

Started by Epoch-Times-Bot, Jan 12, 2023, 07:19 AM

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Epoch-Times-Bot

Jan 12, 2023, 07:19 AM
Foreign Affairs Committee Chair Sounds Alarm Over 'Stealth' Chinese Purchase of Cambridge Chip Startup

Foreign Affairs Committee Chair Alicia Kearns on Wednesday wrote to Business Secretary Grant Shapps, calling for a review into the Chinese take over of a UK semiconductor company.
She said the investment into Cambridge University start-up Flusso wasn’t reviewed under the National Security and Investment Act because the name of the acquirer was not mentioned when the takeover was announced in August, and that the “opacity surrounding this takeover suggests that the buyers intended it to be carried out by stealth.”
Flusso CEO and co-founder Andrea De Luca said Shanghai Sierchi Enterprise Management Partnership, the acquiring vehicle, did notify the UK government about their purchasing intention....

Source: Foreign Affairs Committee Chair Sounds Alarm Over 'Stealth' Chinese Purchase of Cambridge Chip Startup

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