Ailing chipmaker in discussions for partnership

Semiconductor Manufacturing International Corp CEO Richard Chang said China's biggest chipmaker is talking to as many as four investors about a partnership.

The unprofitable company prefers to sell a stake to a strategic partner such as a customer, rather than a financial institution, Chang said. Semiconductor Manufacturing said in March it was in "advanced" talks with an unidentified investor after receiving proposals from private equity firms last year.

"When this deal was very close, a few others came in," said Chang. "We are very cautious and carefully evaluating all the possibilities, so it is taking a long time."