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SMIC to settle lawsuit with TSMC in cash and shares -source

Mon Nov 9, 2009 11:10pm EST

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TAIPEI, Nov 10 (Reuters) - China's contract chip maker SMIC (0981.HK) will pay $140 million in cash to larger rival TSMC (2330.TW) and may offer $100 million worth of SMIC shares to TSMC to settle a trade-secrets lawsuit, a source with knowledge of the matter told Reuters on Tuesday. A California jury ruled last week that Semiconductor Manufacturing International Corp (SMIC) stole trade secrets from Taiwan Semiconductor Manufacturing Co (TSMC), possibly putting SMIC on the hook for more than $1 billion in damages for TSMC, a lawyer for TSMC said. [ID:nN03520791] (US$1=T$32.3) (Reporting by Baker Li, Editing by Ken Wills)



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