Qualcomm inks accelerated share buyback deal worth USD 16 bln with banks

News Wireless Global 13 SEP 2018
Qualcomm inks accelerated share buyback deal worth USD 16 bln with banks
Qualcomm has cut an accelerated buyback deal with Bank of America, Citibank and Morgan Stanley, for the repurchase of USD 16 billion worth of company shares in total. The transactions will be funded by existing cash resources. The deal comes as part of Qualcomm’s previously announced USD 30 billion share buyback programme, announced during the release of its third quarter results and after the company abandoned its takeover of NXP Semiconductor. The company said it remained on track to completed most of the programme by the end of fiscal 2019. 

BNP Paribas acted as structuring adviser to Qualcomm for the latest repurchase.

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