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Alibaba emerges on shortlist to rescue chipmaker Tsinghua

Tech company sole private-sector candidate to bail out China's once national champion

BEIJING -- Chinese tech heavyweight Alibaba Group Holding is reportedly on the shortlist of potential white knights that would bail out embattled domestic chipmaker Tsinghua Unigroup, which once stood at the forefront of China's semiconductor ambitions.

Tsinghua and its creditors have settled on restructuring proposals from seven strategic investors that have expressed interest in leading the rehabilitation, the company announced Monday.

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