Taiwan to Foxconn: Selling stake in Chinese chipmaker? We’ll still fine you
Foxconn plans to sell its controversial stake in Chinese chip-making giant Tsinghua Unigroup, but that reportedly won't stop Taiwan's government from fining the iPhone supplier for buying shares in the first place.
The Taiwanese electronics manufacturer, known formally as Hon Hai Precision Industry Co., Ltd, announced on Friday that it would offload its indirect minority stake in Tsinghua Unigroup, which it holds through its China-listed Foxconn Industrial Internet subsidiary. According to, the buyer, Yantai Haixiu IC Investment Center, will take the stake for no less than 5.38 billion yuan .
That's how much Foxconn paid for its position in Tsinghua Unigroup, which was a contentious move in the view of Taiwan's government from the moment the transaction was disclosedIt's no surprise that Taiwan is wary of domestic companies making investments in China. That's because Taiwan has faced increased aggression from the Middle Kingdom, which claims the self-governing island nation as its own and has not ruled out using military force to"reunify" the two.
"Even though the investment was later pulled, the fact has already been established that they invested first, and they will be fined," a source told Reuters.
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