The WSJ reports that TU will spend $12bn-plus to build a fab and make acquisitions. It's being positioned as part of China's long term goal of being less dependent on Western technology.
The acquisitions will be made by a newly set up subsidiary called Tongfang Guoxin Electronics (TGE), which has a filing on the Shenzhen stock exchange. The report suggests it could acquire IP needed to manufacture memory chips. The TGE filing said it would raise $12.6bn in a private placement with funds coming from TU and TU chairman Zhao Weiguo's investment company .... http://www.theregister.co.uk
