Tech firm basks in Intel glory
By Gao Yuan | China Daily | Updated: 2014-09-26 08:22
US chipmaker said to spend $1.5b for 20% stake in parent of Unisplendour
Share prices of Beijing-based telecom equipment maker Unisplendour Co Ltd soared by the 10-percent daily trade ceiling on Thursday after reports indicated that global chipmaker Intel Corp is spending $1.5 billion for a 20 percent stake in the Chinese company's major shareholder Tsinghua Unigroup Ltd.
Analysts believe the investment will help Intel to get more Chinese smartphone and tablet makers as its biggest rival, Qualcomm Inc, is stuck in an antitrust investigation.
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