VENTURE CAPITAL POST

Fairchild board rejected acquisition proposal from Chinese firms over fears of US regulatory approval. After a thorough review process and consultation with its financial and legal guides, the board of Fairchild decided to forbid the takeover offer.

Hewlett-Packard Co (HPQ.N) will sell a controlling 51 percent stake in its China-based data-networking business to China's Tsinghua Unigroup for at least $2.3 billion, forming a partnership designed to create a Chinese technology powerhouse.

Hewlett-Packard Co (HPQ.N) has agreed to sell a controlling 51 percent stake in its China-based data-networking business, estimated to be worth more than $2 billion (1 billion pounds), to Tsinghua Unigroup, a spokesperson for the Chinese private equity fund's parent company said on Tuesday.

Spreadtrum surged to a record high in New York after announcing acquisition for Tsinghua Unigroup Ltd priced at US$1.78 billion.