China Set to Approve Qualcomm Purchase of NXP Semiconductors
May 26 2018 - 7:47AM
Dow Jones News
By Yoko Kubota in Guiyang and Lingling Wei in Beijing
Chinese authorities are set to approve Qualcomm Inc.'s planned
$44 billion acquisition of Holland's NXP Semiconductors NV in the
next few days, people familiar with the matter said, in what would
be another significant step toward easing frayed U.S.-China trade
relations.
China's State Administration for Market Regulation, which has
been conducting the antitrust review, will hold a meeting on the
matter Monday, according to the people. They said a contingent of
Qualcomm's legal team arrived in Beijing this weekend.
Approval would remove the last hurdle for a deal that has been
stuck for months amid U.S.-China trade tensions, but one of the
people said it could come with conditions.
The likely approval comes as the Trump administration is
battling Congress to roll back penalties on Chinese
telecommunications giant ZTE Corp., and as U.S. Commerce Secretary
Wilbur Ross prepares to lead an interagency delegation to Beijing
starting June 2, where he is set to meet China's chief economic
envoy, Liu He.
--
Yang Jie
contributed to this article.
Write to Yoko Kubota at yoko.kubota@wsj.com and Lingling Wei at
lingling.wei@wsj.com
(END) Dow Jones Newswires
May 26, 2018 07:32 ET (11:32 GMT)
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