TSMC: Won't Intervene In SMIC Operations Or Join SMIC Board
The Taiwanese company said in a statement it was clarifying media speculation that it wanted to become involved in the running of the Chinese firm.
TSMC, the world's largest contract chip maker by revenue, settled a legal dispute last week with SMIC, which agreed to pay TSMC US$200 million in cash, and issue it with new shares and a warrant. TSMC's stake in SMIC would be about 10% if it exercises the warrant.
As part of the settlement, TSMC agreed not to become involved in SMIC's operations or take seats on its board, it said.
"Our settlement with SMIC is aimed at the protection of TSMC's intellectual property and trade secrets," TSMC said.
-By Jessie Ho, Dow Jones Newswires; 88622 502-2557; jessie.ho@dowjones.com
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Publié le 20 novembre 2009 Copyright © 2009 Dowjones
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