Uncertainty continues to reign over Qualcomm’s proposed acquisition of NXP for USD 44 billion. Reports from the South China Morning Post said last week that China had given its green light but other sources, from Reuters, said today that this is not the case. Sources close to the deal said they were not aware of any Chinese approval. One of them said the US tariffs on Chinese goods could impact the process.
Neither Qualcomm nor NXP commented on the matter. China’s State Administration for Market Regulation, the regulator which reviews merger deals, did not immediately respond to a faxed request for comment.
Qualcomm met with regulators in Beijing last month in a bid to secure a clearance, but sources at the time said an approval would depend on the progress of broader bilateral talks and the US government lifting its ban on ZTE. The acquisition has received approval from eight of the nine required global regulators, with China being the only hold-out.
