Chip producer falls

SHARES in iPhone chip maker Dialog Semiconductor fell 4pc after it revealed it was mulling an ambitious reverse takeover of a US rival.

The Reading-based firm said it was considering a deal with California’s Synaptics.

Analysts said the takeover was a defensive move to allow Dialog to reduce its dependence on Apple, which has been moving towards making more iPhone components in-house.

Dialog recently admitted Apple was cutting orders by almost a third. The price slide comes as Dialog’s shares, listed in Frankfurt, have fallen more than 70pc since March 2017.