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Acquisitions will grow more difficult for

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GlobalWafers Co., Chief Executive Officer Doris Hsu said on Sunday, days after a $5 billion deal to buy Germanys

Siltronic AG fell through.

As GlobalWafers grows bigger and wins more market share, we will face more challenges in acquisitions due to antitrust reviews or increasing geopolitical concerns from governments, Hsu said during a call with analysts and reporters. 

GlobalWafers bid won Chinese approval but Germany

blocked the attempt to create what could have been the worlds largest maker of the silicon wafers used in chipmaking. On Sunday, Hsu declined to comment extensively on Berlins action other than to say the company was told that German officials didnt have enough time to review the deal. 

The scuttled acquisition has raised questions about the headwinds for international consolidation in the chip industry, as nations increasingly view semiconductor manufacturing as a national security priority. A persistent chip shortage over the past year has hurt a wide swath of industries and alarmed governments around the world. 

The Taiwanese company, which has

said it would reassess its investment strategy, is not in a rush to dispose its 13.7% stake in Siltronic as market demand remains strong, Hsu said. 

Over the next three years, the company will spend $2 billion for a greenfield project and set aside another $1.6 billion or brownfield expansion, Hsu said.  

The Asian firm had hoped Siltronic would boost its capabilities in high-speed 5G networking and internet-of-things technologies, as well as accelerating progress toward compound-based semiconductors — the next stage in development beyond silicon.