The Dutch government intervened in the control of the Chinese-owned chip manufacturer Nexperia in an unusual measure that generated diplomatic frictions, according to Reuters. Dutch authorities justified the intervention citing concerns that critical technology could be improperly transferred to the Chinese parent company, Wingtech.
Although the Dutch government will not formally own Nexperia, it has acquired the power to veto or reverse administrative decisions it deems harmful. Nexperia, a company headquartered in Nijmegen and focused on manufacturing chips for automobiles and consumer electronics, has operated under full control of Wingtech since its acquisition for about US$ 3.63 billion in 2018.
According to the official statement, its production was not interrupted by the intervention. To legitimize the measure, the Dutch government invoked powers provided for in the Dutch law called “Availability of Goods Act”, never used before in this type of scenario. The news caused Wingtech’s shares to fall about 10% on the Shanghai Stock Exchange.
Wingtech responded by accusing the intervention of “excessive interference motivated by geopolitical bias”. The company stated that it will seek legal advice and government support to protect its interests.
In parallel, a court in Amsterdam suspended Wingtech’s president, Zhang Xuezheng, from Nexperia’s board of directors and ordered the appointment of an independent, non-Chinese director with decision-making power to replace him. The Dutch decision heightens tensions in the global context of the dispute over technological control, especially in strategic sectors like semiconductors.
Source: brasil247.com