Germany To Bolster Chip Sector After Scuppering Siltronic Sale

Germany is planning to bolster its semiconductor industry after the government thwarted the takeover of a local supplier, raising questions about the country's technology strategy. From a report: Chancellor Olaf Scholz's administration is working on programs to invest in the chip sector, which the government considers central to Germany's energy shift, according to a government official. With the approval process in its final days, Economy Minister Robert Habeck met with European Commission President Ursula von der Leyen in Brussels last week to ensure that plans to invest billions of euros in cleaner technologies would pass state-aid scrutiny, said the official, who asked not to be identified because the discussions are private. Germany's new government derailed GlobalWafers Co's $5 billion takeover of Munich-based Siltronic AG by allowing a Monday deadline to grant approval to lapse without a decision, despite reviewing the deal for more than a year.

I learned the verb "to scupper"

[Rosco P. Coltrane]

The story bores me to tears, but I've never come across that verb. Thanks!

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[dsgrntlxmply]

Ex-Navy dad and a few trips on ocean fishing day boats made that noun and verb part of my life from an early age.

Bravely did nothing

[WoodstockJeff]

Proving that they did not want to be scorned for approving OR disapproving of the sale.

"Ooops, we forgot to do something we said we needed to do!"

So, they're working at being job creators

[whitroth]

In their own country, rather than letting a global scum buy the company, then move the jobs somewhere else with cheaper labor.

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[Anonymous Coward]

but 'merka wants shit cheap, we don't care how old the children are that make the stuff, regardless what the corps say about labor and costs. We're entitled.

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[nothinginparticular]

I wish our glorious leaders in the UK took this view. I still can't believe they let ARM get sold to softbank, who nearly got away with selling it to nvidia, causing a fair amount of uneasiness around the world.