- DealReporter says Chinese companies have complained to the MOFCOM competition authority about Qualcomm’s (NASDAQ:QCOM) potential acquisition of NXP Semiconductors (NASDAQ:NXPI).
- MOFCOM meets with domestic chipmakers and cellphone makers this week and convincing complaints might influence the acquisition decision, which the authority should make soon.
- The decision in China could also affect the acquisition’s chances in the EU where regulators worry Qualcomm might divest or otherwise cause a price hike for NXP’s widely used Mifare technology.
- IC Insights analyst Rob Lineback expressed concerns that Qualcomm could sell Mifare to a Chinese business to make MOFCOM more likely to approve the acquisition.
- Qualcomm also has to battle NXP’s activist investors wanting more money for the deal.
- Source: StreetInsider.
- Previously: Qualcomm extends NXP offer; Morgan Stanley (NYSE:MS) thinks QCOM can pay more (June 28)
- Now read: Vanguard Brings You High Dividend Yields
Original article