Acquisition has approval from eight of nine global regulators but has been caught in cross hairs of US-China trade tensions
Qualcomm is expecting to meet China’s antitrust regulators in Beijing this week in a final push to secure clearance for its proposed US$44 billion acquisition of NXP Semiconductors, three sources told Reuters.
The acquisition has been caught in the cross hairs of rising US-China trade tensions, with sources saying an approval would depend on the progress of broader bilateral talks. The deal has got a nod from eight of the nine required global regulators, with Chinese clearance the only one pending.
Qualcomm is likely to meet Chinese regulators before US Commerce Secretary Wilbur Ross arrives in China on Saturday, the sources briefed on Qualcomm’s discussions said.
A Qualcomm team and officials from the State Administration for Market Regulation (SAMR) met in Beijing on Friday and had “productive” talks, the sources said.
The San Diego-based firm is now “cautiously optimistic” the deal will go forward, one of the sources said, amid recent indications of a thaw in US-China trade tensions that has seen both sides propose tens of billions of dollars in tariffs.
On Friday, the administration of US President Donald Trump said it had reached a deal that would put ZTE back in business after the Chinese telecommunications company pays a US$1.
