Deals
China Pushes Qualcomm to Protect Local Companies in NXP Deal
- Regulators are said to want more protection for local players
- Beijing wants to build a strong chip base to offset imports
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In the latest complication for Qualcomm Inc., China’s regulators are seeking more protections for local companies before approving the U.S. chipmaker’s proposed purchase of NXP Semiconductors NV, according to people familiar with the matter. That could jeopardize Qualcomm’s bid to survive as an independent company.
The concerns raised by Beijing have surfaced about a week after President Donald Trump said he was blocking Broadcom Ltd.’s proposed acquisition of Qualcomm to prevent China from stealing a technological march on the U.S.