China’s Tsinghua to buy Western Digital stake in U.S. tech push


China’s Tsinghua Holdings Co Ltd plans to buy a 15 percent stake in U.S. data storage company Western Digital Corp, the latest push by the state-backed company to access U.S. technology. Tsinghua-owned Unisplendour Corp Ltd will invest $3.78 billion in Western Digital and get the right to nominate one representative to the U.S. company’s board, the companies said on Wednesday. Unisplendour will buy newly issued Western Digital shares at $92.50 each, a premium of about 33 percent to the stock’s Tuesday close.

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