{"id":1626018,"date":"2022-08-29T18:05:50","date_gmt":"2022-08-29T22:05:50","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1626018"},"modified":"2022-08-29T18:05:58","modified_gmt":"2022-08-29T22:05:58","slug":"republican-rubio-slams-u-s-approval-of-chip-deal-with-china-ties","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republican-rubio-slams-u-s-approval-of-chip-deal-with-china-ties\/","title":{"rendered":"Republican Rubio slams U.S. approval of chip deal with China ties"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Frepublican-rubio-slams-u-s-approval-of-chip-deal-with-china-ties%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1626018&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>WASHINGTON (Reuters) -Republican Senator Marco Rubio on Monday blasted U.S. regulatory approval of a bid by chip intellectual property company Alphawave to purchase U.S.-based OpenFive, over alleged national security risks posed by the buyer\u2019s ties to China\u2019s Wise Road Capital.<\/p>\n<p>On Friday, the Toronto and London-based Alphawave, which licenses its technology to chipmakers, said it had received all regulatory clearances, including from the powerful U.S. Committee on Foreign Investment in the United States (CFIUS).<\/p>\n<p>The $210 million deal is expected to close next month.<\/p>\n<p>The deal has drawn fire from Republican China hawks in Congress, including the influential Rubio, who has advocated for CFIUS to review deals related to China that he saw as posing national security risks.<\/p>\n<p>Earlier this year, he called on CFIUS to scrutinize the Alphawave deal, citing Chinese private equity firm Wise Road Capital\u2019s 10% stake in Alphawave and their 2021 agreement allowing Wise Road Capital to license Alphawave technology to increase its customer base in China.<\/p>\n<p>Rubio on Monday accused President Joe Biden\u2019s administration of \u201cyet again\u201d demonstrating its \u201ctotal unwillingness\u201d to take seriously the threat of China aggressively buying and stealing U.S. intellectual property. \u201cAmerican competitiveness will suffer in the long term as a result,\u201d he warned.<\/p>\n<p>The Treasury department, which heads CFIUS, OpenFive and Wise Road Capital did not respond to requests for comment. Alphawave declined to comment.<\/p>\n<p>Liu Pengyu, a spokesman for the Chinese Embassy in Washington, said China opposes attempts to politicize or interfere politically in mergers and acquisitions. <\/p>\n<p>\u201cSome U.S. politicians are \u2026 accusing China of \u201cstealing\u201d intellectual property rights but are short on delivering solid evidence,\u201d Liu added.<\/p>\n<p>CFIUS has taken a hard line with Wise Road Capital in the past. In December 2021, the private equity firm and U.S. chipmaker Magnachip Semiconductor Corp said they had terminated their $1.4 billion merger agreement after CFIUS said the deal posed \u201crisks to national security.\u201d<\/p>\n<p>OpenFive also leases chipmaking intellectual property to chipmakers.   <\/p>\n<p> (Reporting by Alexandra Alper; Editing by Rosalba O\u2019Brien and Richard Chang)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2742765\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7S0QI-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7S0QI-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>WASHINGTON (Reuters) -Republican Senator Marco Rubio on Monday blasted U.S. regulatory approval of a bid by chip intellectual property company Alphawave to purchase U.S.-based OpenFive, over alleged national security risks<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1626018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1626018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1626018"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1626018\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1626018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1626018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1626018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}