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8/10, 4:50 AM (Source: TeleTrader)
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Taiwan urges Foxconn to axe Chinese chipmaker stake - report

Taiwan's security officials called on Foxconn Technology Group to cancel its investment in the Chinese chip company Tsinghua Unigroup worth $800 million, the Financial Times reported, citing unnamed government officials.

One of Taiwan's government officials noted that Foxconn's investment in the Chinese company "will definitely not go through," as the island is trying to enter into closer cooperation with the United States. Another official asserted that an end needs to be put to the deal.

Meanwhile, one person close to the company told the Financial Times that prospects for the investment "are getting dim" as Taiwan authorities "elevated this to the national security level" with the tensions in the Taiwan Strait continuing to rise.

Baha Breaking News (BBN) / AY