Britain moves to protect its defence industry
When Cobham was a sovereign UK company it purchased its main rival in the AAR game, Sargent Fletcher, and ran that company, along with a whole host of other US companies that it had bought/taken over, as an integral part of the US arm of Cobham for many years. Don't recall any wailing and gnashing of teeth about that, from either side of the pond.
Ecce Homo! Loquitur...
Thread Starter
https://www.thetimes.co.uk/article/n...ears-7xwnwdzww
Nvidia’s $40bn Arm takeover in doubt amid national security fears
The $40 billion takeover of Britain’s most valuable technology business was thrown into doubt last night amid speculation that the government is thinking of blocking the deal on national security grounds.
Last September it was announced that Arm, the Cambridge-based microchip designer, was being sold to Nvidia as part of the American chipmaker’s push to capitalise on the booming market for semiconductors.
The sale would net a healthy return for Arm’s current owner. SoftBank, the Japanese conglomerate, took the company private in 2016 for $34 billion.
However, the Competition and Markets Authority, at the request of Oliver Dowden, the culture secretary, has been scrutinising the proposed takeover since April. The regulator was asked to identify any competition issues and to pull together a summary of national security concerns raised by third parties.
That report was delivered within the past two weeks and contains “worrying implications for national security”, Bloomberg said, citing someone familiar with the government discussions.
Another source claimed that the UK was likely to carry out a more in-depth review of the merger because of national security worries, although it was not immediately clear what those concerns might be.
A spokesman for Nvidia said: “We continue to work through the regulatory process with the UK government. We look forward to their questions and expect to resolve any issues they may have.” The Department for Digital, Culture, Media amd Sport could not be reached for comment.….
Nvidia’s $40bn Arm takeover in doubt amid national security fears
The $40 billion takeover of Britain’s most valuable technology business was thrown into doubt last night amid speculation that the government is thinking of blocking the deal on national security grounds.
Last September it was announced that Arm, the Cambridge-based microchip designer, was being sold to Nvidia as part of the American chipmaker’s push to capitalise on the booming market for semiconductors.
The sale would net a healthy return for Arm’s current owner. SoftBank, the Japanese conglomerate, took the company private in 2016 for $34 billion.
However, the Competition and Markets Authority, at the request of Oliver Dowden, the culture secretary, has been scrutinising the proposed takeover since April. The regulator was asked to identify any competition issues and to pull together a summary of national security concerns raised by third parties.
That report was delivered within the past two weeks and contains “worrying implications for national security”, Bloomberg said, citing someone familiar with the government discussions.
Another source claimed that the UK was likely to carry out a more in-depth review of the merger because of national security worries, although it was not immediately clear what those concerns might be.
A spokesman for Nvidia said: “We continue to work through the regulatory process with the UK government. We look forward to their questions and expect to resolve any issues they may have.” The Department for Digital, Culture, Media amd Sport could not be reached for comment.….
https://www.defensenews.com/global/e...ign-influence/
Britain’s effort to shut the door on unwelcome investors like the Chinese is part of a growing trend among Western nations.
Britain’s effort to shut the door on unwelcome investors like the Chinese is part of a growing trend among Western nations.
Ecce Homo! Loquitur...
Thread Starter
Just as an aside - and a warning…..
https://www.thetimes.co.uk/article/m...lice-mqkml2gnf
Military drones company illegally bought by China, say Italian police
An Italy-based defence manufacturer that supplies the Italian special forces with high-tech drones has been raided by police amid suspicions that it was illegally purchased by China.
Alpi Aviation, based in Pordenone in northern Italy, is being investigated after a Hong Kong company allegedly paid a inflated price for the company in 2018 — triggering Italian investigators’ suspicions.
While investigating the Hong Kong company, they discovered it was a based on a web of corporate holdings that were traced back to “two important government-owned companies in the People’s Republic of China”, a statement from Italy’s tax police said.
A complex cross-ownership diagram issued by police showed 15 Chinese companies allegedly involved in shielding the true ownership of the company.
Police said the Italian company had been bought not as an investment but “exclusively for the acquisition of its technological and production know-how, including military”, with plans reportedly under way to shift production facilities to the eastern Chinese city of Wuxi.
The sale to overseas buyers of strategic Italian companies without first obtaining the permission of the Italian government is outlawed by the country’s “golden power” law.
“The law covers firms which sell to Italy’s defence ministry and Alpi Aviation is on the MoD’s list as a supplier and covered by the law,” said Colonel Stefano Commentucci of Italy’s tax police.
The company also allegedly broke Italian law by failing to inform the government when it temporarily exported a drone for display at a 2019 Shanghai trade fair.
“When it was exported it was declared as a model aircraft, which was clearly not the case,” said Colonel Commentucci.
Alpi Aviation produces the Strix drone, which has been used by Italy’s air force in Afghanistan. Weighing 10kg, with a three-metre wingspan and taking just eight minutes to set up, the drone can be launched by catapult and has a parachute for landing.
Suitable for roving special forces missions and also used by the Italian navy, the drone can relay video and infrared imagery in real time. A police source estimated that a set of two drones cost around €100,000.
The company also undertakes joint research into military drones with Leonardo, the Italian state-controlled defence company.
Three Italian and three Chinese managers at the company are now under investigation over the alleged Chinese purchase.
Lawyers representing Alpi Aviation denied the allegations made by police, stating the sale was “transparent”, did not violate Italian legislation and reflected the “real value of the company”.
https://www.thetimes.co.uk/article/m...lice-mqkml2gnf
Military drones company illegally bought by China, say Italian police
An Italy-based defence manufacturer that supplies the Italian special forces with high-tech drones has been raided by police amid suspicions that it was illegally purchased by China.
Alpi Aviation, based in Pordenone in northern Italy, is being investigated after a Hong Kong company allegedly paid a inflated price for the company in 2018 — triggering Italian investigators’ suspicions.
While investigating the Hong Kong company, they discovered it was a based on a web of corporate holdings that were traced back to “two important government-owned companies in the People’s Republic of China”, a statement from Italy’s tax police said.
A complex cross-ownership diagram issued by police showed 15 Chinese companies allegedly involved in shielding the true ownership of the company.
Police said the Italian company had been bought not as an investment but “exclusively for the acquisition of its technological and production know-how, including military”, with plans reportedly under way to shift production facilities to the eastern Chinese city of Wuxi.
The sale to overseas buyers of strategic Italian companies without first obtaining the permission of the Italian government is outlawed by the country’s “golden power” law.
“The law covers firms which sell to Italy’s defence ministry and Alpi Aviation is on the MoD’s list as a supplier and covered by the law,” said Colonel Stefano Commentucci of Italy’s tax police.
The company also allegedly broke Italian law by failing to inform the government when it temporarily exported a drone for display at a 2019 Shanghai trade fair.
“When it was exported it was declared as a model aircraft, which was clearly not the case,” said Colonel Commentucci.
Alpi Aviation produces the Strix drone, which has been used by Italy’s air force in Afghanistan. Weighing 10kg, with a three-metre wingspan and taking just eight minutes to set up, the drone can be launched by catapult and has a parachute for landing.
Suitable for roving special forces missions and also used by the Italian navy, the drone can relay video and infrared imagery in real time. A police source estimated that a set of two drones cost around €100,000.
The company also undertakes joint research into military drones with Leonardo, the Italian state-controlled defence company.
Three Italian and three Chinese managers at the company are now under investigation over the alleged Chinese purchase.
Lawyers representing Alpi Aviation denied the allegations made by police, stating the sale was “transparent”, did not violate Italian legislation and reflected the “real value of the company”.
"A complex cross-ownership diagram issued by police showed 15 Chinese companies allegedly involved in shielding the true ownership of the company."
Another brilliant Western idea stolen by the Chinese!!!!
Another brilliant Western idea stolen by the Chinese!!!!
