Shanghai-listed Wingtech Technology has rejected a restructuring proposal under which it would lose control of Dutch chipmaker Nexperia's assets outside China, the South China Morning Post reported. In a statement on Tuesday the company called the plan an "expropriation" driven by discrimination against Chinese investors.
According to the report, the stand-off deepens a year-long dispute between Wingtech and Dutch authorities. Wingtech also faces an approaching delisting deadline at home, while Dutch Prime Minister Rob Jetten prepares for an official visit to Beijing in the spring. It has not been reported who submitted the proposal or what happens next.