As I see this, a geopolitical call option first assumes the two companies are in the same business. At this point, this appears to be only an aspirational case.
Were it to come about that INTC transforms into a successful outsourcing chip manufacturer, one would then have to accept the premise that China will, at some point in the near future, take control of Taiwan through military action. That could prove to be Pyrrhic victory.
Taiwan is not Hong Kong and the PRC has enough problems in HK. There has been no plan for reunification since the delusional ROC planned to retake China in the 1950s. It's not unambiguous but Taiwan is still an independent country, not property leased by another entity and Taiwan has been a democracy for 35 years. Economically and culturally it makes no sense.