back to article UK gov blocks the acquisition of Welsh graphene fiddler Perpetuus Group over national security concerns

UK government has issued a surprise public interest intervention notice against the proposed takeover of Welsh advanced materials specialist Perpetuus Group, claiming it represents a potential threat to national security. Founded in 2013, the Perpetuus Group's main subsidiary is Perpetuus Advanced Materials - a company which …

  1. gurugeorge

    It’s very simple. Just a Chinese government trying to steal secrets as usual.

    1. Lars Silver badge

      It remains childish to call it stealing, so save it and if you are too dumb to do it let the Chinese save it.

  2. Skiron

    This all sounds like something James Bond will need to get involved in - you couldn't make up better names for a Bond movie.

    1. John Jennings

      I think he might already be there.

  3. Doctor Syntax Silver badge

    It's almost as if HMG has discovered supply chain risk.

    1. Psmo


      No, seriously it'll be someone sitting on the board who didn't get their compensation.

  4. sageman

    Strong Arm tactics

    I hope that the Government is as vigilant when they come for Arm ...

    No ... Wait ...

    1. Fruit and Nutcase Silver badge

      Re: Strong Arm tactics

      Probably just stalling until a donation for the needy arrives

    2. lglethal Silver badge

      Re: Strong Arm tactics

      Well you see Nvidia and Softbank are rich and have lobbyists who can grease the wheels of acquisition.

      Perpetuus Group and taurus do not appear to be particularly rich and dont have the lobbyists on call to apply the grease.

      Hence they get rejected, and ARM gets approved. Grease is very important for keeping Government ministers working after all...

      Cynical, moi?

      1. I ain't Spartacus Gold badge

        Re: Strong Arm tactics

        Nvidia's takeover hasn't been approved. Despite its supposed many lobbyists. It's being studied by the CMA on competition grounds.

        Softbank were unlikely to be seen as a national security threat, and certainly weren't a threat to market competition. So no concerns were raised.

        This isn't difficult.

  5. Will Godfrey Silver badge

    If it walks like a duck...

    There seems to be much duck-ness here.

    1. Gonzo wizard

      Re: If it walks like a duck...

      Hoisin Duck, at that. HMG has cancelled the Chinese take-away.

  6. John Brown (no body) Silver badge

    It's a shame...

    ...there doesn't seem to be the same level of investment in the UK. We seem to be good at inventing stuff but shit at getting it to production or even marketing it.

    Likewise, there doesn't seem to be the same culture of venture capital as other countries such as the US seem have. Is it a problem with the UK tax system or something?

    Likewise, in the US, we hear of people making millions or billions from a new company, then selling up, moving on and starting all over again. Here in the UK, it seems that people make their millions or billions, get a knighthood or made a Lord and become government advisors or just retire. There doesn't seem to be the same concept of serial entrepreneurship here.

    1. YetAnotherJoeBlow

      Re: It's a shame...

      "We seem to be good at inventing stuff but shit at getting it to production or even marketing it."

      Sorry mate, it is your food there.

    2. katrinab Silver badge

      Re: It's a shame...

      No, I think it is a problem with British Manglement looking at the accounts in the way El-Reg did.

      It is an early-stage start-up, of course it is going to make losses. You don't value it on the basis of last quarters financials. You value it on the basis of how viable you think the product is, the market and so on.

      Of course, the problem with American Manglement is that they /do/ value companies in this way.

  7. Anonymous Coward
    Anonymous Coward

    Unfortunately this is yet another sign of the UK Governments (all of them) FAILURE over past 50 years in taking an easy route and relying on China and EU to provide us with goods and services. It is a bit like the difference between giving someone a fish to eat AND giving that person a fishing rod so they can catch all they like. The "Fish" is China and EU, and the Fishing Rod is manufacturing plants in the UK !! . The inevitable is now continuing ,which is China taking over all the "Fishing Rod's" so we are trapped and simply workers for China.

    The UK Government is now trying to push back the floodgates ,which they stupidly opened, and it will be a very very hard task.

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