The technology executive who led the White Knight bid to take over Britain’s largest microchip factory has pledged to spend up to 300 million pounds on the plant amid a battle for a reward from China’s control.Ron Black said six conglomerates are ready to bid

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the Newport Wafer Fab plant if the government blocks the acquisition of Shanghai company Nexperia.Mr Black, who ran Imagination Technologies before leaving the British chip business after it was tried by Chinese investors. Refusing to urge ministers to block Nexperia directly buying the factory.

But in his first public comments about the auction Mr Black said all tech deals should be taken seriously in the field of national security. He added that the investors’ plans will help turn South Wales into a hub for advanced chip manufacturing.What we are looking to do is provide an alternative to the current deal if Nexperia or the government concludes that an alternative is needed.