China regulators approve Qualcomm-NXP Semiconductors merger deal: SCMP

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(Reuters) – Chinese regulators have approved U.S. chipmaker Qualcomm Inc’s (QCOM.O) proposed $44 billion merger deal with NXP Semiconductors (NXPI.O), South China Morning Post reported on Thursday, citing people with knowledge of the matter.

FILE PHOTO: A sign on the Qualcomm campus is seen in San Diego, California, U.S. November 6, 2017. REUTERS/Mike Blake/File Photo

The decision by China’s Ministry of Commerce clears a months-long antitrust roadblock caused by trade tensions between the United States and Beijing and will allow the takeover to proceed, SCMP reported. (bit.ly/2l87thk)

FILE PHOTO: A man works on a tent for NXP Semiconductors in preparation for the 2015 International Consumer Electronics Show (CES) at Las Vegas Convention Center in Las Vegas, Nevada, U.S. January 4, 2015. REUTERS/Steve Marcus/File Photo

With the green signal from China’s Ministry of Commerce, the deal has effectively been approved by all nine required global regulators.

Qualcomm initially announced its bid for Dutch semiconductor company NXP Semiconductors in October 2016.

Qualcomm was not immediately reachable for comment.

Reporting by Nikhil Subba in Bengaluru; Editing by James Dalgleish

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