--Chinese company Wingtech Technology Co. has been told by the U.K. government that its subsidiary Nexperia must cut its holdings in a U.K. silicon chip factory over security concerns, Sky News reports.

--Dutch subsidiary Nexperia must cut its stake in the Newport Wafer Fab in Newport, Wales by 86%, returning to its original holding of just 14% when it took over the company in 2021, it said.

--Nexperia has responded with "shock and frustration", adding 500 jobs are now at risk, and consistently said it and parent company Wingtech are separate from the Chinese state, the report said.


Full story: https://bit.ly/3EDVj9B


Write to Joe Hoppe at joseph.hoppe@wsj.com


(END) Dow Jones Newswires

11-17-22 0119ET