Taiwanese iPhone Maker Arm Backs Top China Chipmaker After $9 Billion Rescue

Technology

A Shanghai-listed arm of Foxconn Technology Group acquired a stake in China’s top chipmaker during its $9 billion bailout, people familiar with the matter said, the latest in a series of investments the Taiwanese-run firm has made in the mainland’s semiconductor industry.

Foxconn Industrial Internet Co. invested in state-backed Tsinghua Unigroup through a fund it set up with investment house Wise Road Capital, according to people familiar with the deal. The fund paid about 5.3 billion yuan ($788 million) for a minority stake in Unigroup, one of the people said, asking not to be identified discussing a private deal.