China's Wingtech says its control over Nexperia must be restored
China's Wingtech demands restoration of its control over Nexperia after Dutch government suspended its seizure. Wingtech and Beijing call for reversal of Dutch court ruling that stripped Wingtech of control over Nexperia. Wingtech rejects any attempt to legalize the ruling or accept new governance norms created through illegal procedures.
BEIJING, Nov 20 (Reuters) - China’s Wingtech (600745.SS) said on Thursday that its control over Netherlands-based Nexperia must be restored, a day after the Dutch government suspended its seizure of the chipmaker that has been at the centre of a global supply chain crisis.
Despite the suspension, which China’s commerce ministry welcomed on Wednesday, Beijing and now Wingtech have called for the reversal of a Dutch court ruling that stripped Wingtech of its control over Nexperia as the next step to resolve the dispute.
“Wingtech Technology will never accept any attempt to ‘legalize’ illegal outcomes, nor will it accept a ‘new normal’ of Nexperia’s equity and governance created through illegal procedures,” the company said in a statement.
