Asia Express - Mobile Communications
Datang Telecom to Acquire 16.6% Stake in SMIC
November 14, 2008
Chinese telecom operator Datang Telecom has announced its plan to buy 16.6% stake in SMIC (Semiconductor Manufacturing International Corporation), according to Sohu IT News, adding that the value of the deal is estimated at around US$171.8 million. The deal, which represents a major foray by SMIC into China's TD-SCDMA industry supply chain, is currently still pending the government approval though, according to the same source. Additionally, Datang is also granted the right to nominate two board representatives to SMIC's nine-member board of directors.