Categories Earnings, Technology

Qualcomm might receive Chinese clearance for $44-billion deal

Semiconductor giant Qualcomm Inc (QCOM) might negotiate with Chinese market regulators in Beijing this week to help clear hurdles to its proposed acquisition of NXP Semiconductors (NXPI), according to a Reuters report.

With tensions of a possible China-US trade war high in the air, the $44-billion deal was hit by the outcome of diplomatic talks between the two countries. As of now, China is the only global regulator to okay the deal, with the other eight giving it approvals.

With US Secretary of Commerce Wilbur Ross anticipated to meet with Chinese officials in Beijing coming Saturday, the deal approval appeal is expected to happen this week.

Recently, the US government banned ZTE Corp in the country, but later said it reached a consensus to allow the Chinese rival of Qualcomm to operate with a $1.3-billion fine and changes in management roles. Earlier on May, Chinese anti-trust regulator okayed Qualcomm’s JV deal with Datang Telecom Technology Co.

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