Chinese telecom operator Datang Telecom plans to earmark US$104 million for the increment of stake in Chinese chipmaker SMIC (Semiconductor Manufacturing International Corporation) to 19.1%, up from the current 15.2%, the Xinhua News reported on July 9. The deal, however, is still pending approval by Datang Telecom's independent shareholders. Should this deal be confirmed, Datang Telecom will be SMIC's largest shareholder. Aside from its attempt to sell up to 15 billion new shares to Datang Telecom, SMIC announced on July 15, that the company also raised HK$780 million by selling new shares to the public, Dow Jones reported on July 15. Taiwanese TSMC (Taiwan Semiconductor Manufacturing Corporation) stated that the company has no plans to buy more stakes in SMIC. Further details regarding the progress of the potential deal with Datang Telecom, however, were not yet disclosed.