CHINA Chinese chip company CellWise clarifies German acquisition

CHINA

Chinese chip company CellWise clarifies German acquisition

China Daily

14:10, October 28, 2022

Chinese chip company CellWise Microelectronics Co Ltd said it has not received any official decision or document so far from German authorities about its wholly-owned subsidiary's acquisition plan of an automobile chip manufacturing line in Germany.

CellWise Microelectronics Co Ltd said it has not received any official decision or document so far from German authorities about its wholly-owned subsidiary's acquisition plan of an automobile chip manufacturing line in Germany. [Photo/cellwise-semi.com]

The comments came after the German media quoted sources stating that the German government plans to approve Silex Microsystems AB, a Sweden-based wholly subsidiary of CellWise, to acquire Germany company Elmos Semiconductor SE's auto chip line in Dortmund in the upcoming weeks.

CellWise said in a statement on Thursday that up to the present, neither the company nor its domestic and foreign subsidiaries have received any official decision or document from Germany's Federal Ministry for Economic Affairs and Climate Action regarding the approval result of foreign direct investment in this acquisition transaction.

All information related to this acquisition transaction shall be subject to the final decision of the German government and the official announcement document of the company, CellWise said.

Despite the clarification statement, CellWise's shares,which are listed in Shenzhen, surged as much as nearly 11 percent on Friday morning before the rise narrowed to about 7 percent.

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