Advanced Technology Investment Co., the investment arm of the Abu Dhabi government – and the controlling investor in former Advanced Micro Devices (AMD) unit Globalfoundries – says that contrary to recent speculation, it has no plans to make a bid to acquire the Taiwan-based contract chip manufacturer United Microelectronics (UMC), Bloomberg reports.
ATIC chief executive Ibrahim Ajami told the news service in an interview that the firm “is not in a position to do this in this stage of our capital deployment…there are a lot of risks we would have to consider and a lot of implications of an acquisition of that nature.�
The story notes that UMC has rallied 7.9% in Taiwan over the last 10 days on reports that Globalfoundries might take a stake in the company.
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