Reuters first to flag settlement between SMIC and TSMC; shares zoom up 60 pct

Reuters was the first to report on Nov. 5 that SMIC, China’s largest contract chipmaker, was in talks to settle a $1 billion lawsuit bought by leading global rival TSMC for $100 million to $200 million. Dow Jones couldn’t match the news, and ran a story the same day citing the Reuters report. Bloomberg followed four days later with its first story on the subject, writing just before the official announcement came out. after the settlement was officially announced on Nov. 10– their largest ever single-day gain –corroborating the Reuters story.

Market Impact

SMIC shares, resuming trade after a suspension, soared more than 60 percent

Article Tags
Type: Reuters Best
Sectors: Equities
Regions: Asia
Countries: China
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