France' STMicro sees no reason to take part in EU chip alliance

FILE PHOTO Jean-Marc Chery Deputy Chief Executive Officer of STMicroelectronics attends the third annual tech conference quotInno Generationquot organized by French investment bank Bpifrance at AccorHotels Arena in Paris France October 12 2017. REUTERSCharles Platiau

FILE PHOTO: Jean-Marc Chery, Deputy Chief Executive Officer of STMicroelectronics, attends the third annual tech conference "Inno Generation" organized by French investment bank Bpifrance at AccorHotels Arena in Paris, France, October 12, 2017. REUTERS/Charles Platiau

PARIS (Reuters) - Franco-Italian chipmaker STMicroelectronics sees no reason to join a potential European Union semiconductors alliance, its chief executive said on Tuesday, as the European Commission is seeking to boost Europe's independence in microchips.

CEO Jean-Marc Chéry told BFM Business that the Commission's initiative is a positive development but added that his firm had no interest in taking part.

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