Companies

US blocks China fibre optics deal over security

(Agencies)
Updated: 2010-07-01 10:19

A deal that would have given a Chinese investment company a  60 percent stake in Emcore's fiber optics business has been called off because of regulatory concerns, the companies said Tuesday.

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A filing with the Committee on Foreign Investment in the United States was officially withdrawn last week due to the concerns of Tangshan Caofeidian Investment Corp (TCIC).

Emcore Corp, of Albuquerque, announced in February it would sell a majority stake to TCIC, in the Hebei province of China, for $27.75 million.

The semiconductor and solar power supplier says it plans to continue working with TCIC despite the collapse of the deal.