# UK orders China-registered firm to sell stake in Scottish chip company
Author:  Pal Sinha,Barnali
Author URL: https://fintechherald.com/author/pal-sinha-barnali
Published: 2024-11-07
Category: News
Category URL: https://fintechherald.com/category/news
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URL: https://fintechherald.com/uk-orders-china-registered-firm-to-sell-stake-in-scottish-chip-company

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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)


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