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PDSTI says Tsinghua Unigroup violated NDRC rules with RDA Microelectronics deal

( May 13, 2014, 07:30 GMT | Official Statement) -- MLex Summary: Shanghai Pudong Science and Technology Investment (PDSTI) has said Tsinghua Unigroup violated National Development and Reform Commission rules in its deal to purchase RDA Microelectronics. Tsinghua Unigroup entered into a merger agreement without obtaining the necessary confirmation letter from the NDRC, PDSTI said. As the merger agreement is potentially based on a wrongful action, such an ill-founded transaction may not be completed, PDSTI said.The full statement follows:...

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