UK Orders Chinese Owner to Sell Scottish Chip Company

The Cabinet Office said it made the intervention to mitigate risks to the UK’s national security.

Chancellor of the Duchy of Lancaster Pat McFadden speaking during the Labour Party Conference in Liverpool, England, on Sept. 22, 2024. Peter Byrne/PA Wire

The UK government has ordered a China-linked entity to undo its acquisition of a Scottish chip company, the Cabinet Office said on Wednesday.

The FTDI Holding Limited, which was set up by owners with ties to China in 2021 to buy 80.2 percent shares of Future Technology Devices International Limited (FTDI), was told to sell the shares “within a specified period and by following a specified process.”