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SMIC in advanced negotiations with strategic investor
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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 belooking at a buyout of the company.