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UK Blocks Takeover of Electronic-Design Firm on Chinese Security Fears

  • Business minister Kwarteng says deal is national security risk
  • Britain is taking a tougher stance on China-based investment
Business Secretary Kwasi Kwarteng

Business Secretary Kwasi Kwarteng

Photographer: Chris Ratcliffe/Bloomberg

The UK government blocked the takeover of an electronic design company by a Hong Kong-based firm, the latest example of Britain’s increasing hostility to Chinese investment.

Business Secretary Kwasi Kwarteng, who is the front-runner to be the UK’s next chancellor, ruled that stopping the acquisition of Bristol-based Pulsic Ltd, whose software can be used to build circuits, by Super Orange HK Holding Ltd was “necessary and proportionate to mitigate the risk to national security.”