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SMIC in advanced negotiations with strategic investor

Mar 25, 2008 at 09:42 AM

SMIC has said that it is in advanced negotiations with an unidentified strategic investor that could purchase a major share in the China-based foundry. Negotiations are currently ongoing. SMIC also said that certain members of the management of the Company may be interested in purchasing shares of the Company in the open market if appropriate conditions exist.

Interest in the company was seen last year when several private equity funds that included Kohlberg Kravis Roberts, Bain Capital and General Atlantic were thought to be looking at a buyout of the company.

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