China reviewing Qualcomm's bid to buy NXP Semiconductors: MOC

[TaiShang]

China reviewing Qualcomm's bid to buy NXP Semiconductors: MOC

Xinhua | Updated: 2018-04-19

The booth for the chip company Qualcomm attracts visitors at the mobile communications fair Mobile World Congress in Barcelona, Spain, Feb 26, 2018. [Photo/IC]
BEIJING - China is reviewing US smartphone chip supplier Qualcomm's bid to acquire its Dutch rival chipmaker NXP Semiconductors based on anti-trust laws, the country's Ministry of Commerce (MOC) said Thursday.

The company has to receive approval from market regulators in nine countries to seal the deal.

The acquisition might lead to a major impact on the market and compromise competition, said MOC spokesperson Gao Feng.

Gao said it will take time for regulators to investigate and analyze the case, and the MOC has talked with Qualcomm over reducing unfavorable influences of the acquisition.

Investigators have decided that the company's remedy proposal might not help address market competition concerns, Gao said.

Qualcomm has withdrawn its previous acquisition application and resubmitted a new one to the MOC. The MOC will conduct an open and fair anti-monopoly investigation on the issue, he added.

http://www.chinadaily.com.cn/a/201804/19/WS5ad835eaa3105cdcf65194d2.html

@qwerrty

 

[atan651]

Don't need to waste precious time to review it. Just issue a letter of denial based on Chinese national security and stiffling of competition, period!

 

[qwerrty]

muricans even blocked their own company, broadcom, to kick china a$$. i say just do like the guy posted above. who cares

 

[ZeEa5KPul]

Chinese regulators should tell them to refile their case in seven years.

 

[shadows888]

Chinese regulators should tell them to refile their case in seven years.

Lol while this would be funny as hell. But I think this merger will be approved.

 

[jhungary]

NXP is losing money (I think it lost about 300 millions in 2017 if my memory serve me right) Qualcomm is buying NXT (Which jointed held by Motorola, by which it mean Lenovo) While Qualcomm is paying very handsomely, I think they are paying 44 billions to acquire NXP which worth only 9 billions.

An educated guess will be Chinese is holding this deal hostage until the US/China trade tariff situation resolved. However, the problem is that NXP is losing money, and the reason why Qualcomm want NXP is because of their research facilities, the longer this drag on, the longer Qualcomm can provide with an alternative solution and not to buy NXP.

 

[Jlaw]

muricans even blocked their own company, broadcom, to kick china a$$. i say just do like the guy posted above. who cares

Chinese government overanalyze. Just fucking block the deal.