Dutch government takes control of Chinese-owned chipmaker Nexperia
9 hours ago
- #Geopolitics
- #Trade-War
- #Semiconductors
- Dutch government takes control of Chinese-owned Nexperia, citing technology transfer concerns.
- Decision made under the 'Availability of Goods Act', leading to a 10% drop in Wingtech's shares.
- Dutch government gains power to reverse or block harmful management decisions without taking ownership.
- US and Netherlands cooperate on chip export controls, but Dutch deny US involvement in Nexperia decision.
- Wingtech placed on US 'entity list' for aiding China's semiconductor acquisition efforts.
- Nexperia complies with US rules, claims operational independence from Wingtech.
- Wingtech criticizes Dutch intervention as 'excessive interference driven by geopolitical bias'.
- Nexperia executives accused of attempting a 'cloaked power grab' to alter equity structure.
- Dutch government cites risk to 'Dutch and European economic security' from loss of technological knowledge.
- Wingtech's chairman suspended from Nexperia boards, replaced by an independent non-Chinese individual.