Nov 10, 2016 06:14 PM

Acquisitive Chip Aspirant Unigroup Buys 5% of SMIC on Open Market

(Beijing) – Leading Chinese chip maker SMIC said Thursday that a recent purchase of more than 5% of its shares by Tsinghua Unigroup is a pure financial investment, following a string of failed or sputtering attempts at major acquisitions by Unigroup over the last two years.

Based in the prestigious Tsinghua University, China's leading sciences institution, Unigroup and several sister companies have embarked on a global buying spree over the last two years in a bid to build a homegrown giant making high-tech chips that power everything from cellphones to smart appliances.

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