UK Competition Watchdog Clears Intel's Chip Unit Sale to SK Hynix
June 28 2021 - 04:11AM
Dow Jones News
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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