By Adria Calatayud

 

The U.K. Competition and Markets Authority said Monday that it has cleared Intel Corp.'s proposed sale of its flash-memory manufacturing business to South Korea's SK Hynix Inc.

The antitrust watchdog said it has decided it won't refer the deal to an in-depth phase 2 probe based on the information currently available to it. The regulator in April said it was considering whether the transaction might hurt competition in the U.K. and formally began a phase 1 investigation last month.

U.S. chip maker Intel in October reached a deal to sell its flash-memory manufacturing business to South Korean peer SK Hynix for about $9 billion.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

June 28, 2021 03:57 ET (07:57 GMT)

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