Obama set to block Aixtron sale to Chinese fund

NEW YORK: US President Barack Obama is poised to block the sale of German chip equipment maker Aixtron to China’s Fujian Grand Chip Investment Fund (FGC), Bloomberg reported, citing sources. Obama is expected to uphold the Committee on Foreign Investment in the United States’ (CFIUS) recommendation that Aixtron’s sale to the Chinese investment fund be stopped, Bloomberg said, citing sources. Obama’s office could not be reached for comment immediately by Reuters outside regular business hours. In November, Aixtron said that the CFIUS told the company it would recommend that its pending takeover by Fujian be blocked. — Reuters