Equities

Reuters reveals chipmaker GlobalFoundries asks EU to investigate bigger rival TSMC; shares drop

Reuters reveals chipmaker GlobalFoundries asks EU to investigate bigger rival TSMC; shares drop

Reuters exclusively reported on Sept. 21 that U.S. electronic chipmaker GlobalFoundries has asked European antitrust regulators to investigate market leader TSMC, accusing the Taiwanese firm of unfair competition. GlobalFoundries is the closest challenger to Taiwan-based TSMC in the foundry, or contract market for making chips for firms without plants of their own. Following the Reuters report, TSMC shares ended more than one percent down on Sept. 22.