Seeks stake in Taiwan’s UMC

AFP - An Abu Dhabi-based investment firm wants to acquire leading Taiwan chip maker United Microelectronics Corp (UMC) as it tries to become the world leader in the market, a report said Thursday.

Advanced Technology Investment Company (ATIC) is targeting UMC following its acquisition of Singapore's Chartered Semiconductor Manufacturing last year, the Taiwan-based Economic Daily News said, citing unnamed sources.

The firm hopes that by buying UMC, it can overtake Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest contract microchip maker by revenue, the report said.