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.

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