China Market Regulators: Still Undergoing Qualcomm's Acquisition of NXP Transaction

Sina Technology News Beijing time on June 1 afternoon news, according to Reuters, China's State Market Supervision Administration said on Friday that the agency is still reviewing Qualcomm's $ 44 billion worth of transactions with NXP.

According to the State Market Supervision Administration, the department is also negotiating with Qualcomm to eliminate the negative impact of the transaction on the market.

In response to a Reuters fax, the State Market Supervision Administration stated that the department will conduct the anti-monopoly review in a fair and open manner.

Earlier Reuters quoted sources as saying that Qualcomm may meet with Chinese antitrust regulators in Beijing this week to ensure approval of its $44 billion purchase of NXP.

The deal was implicated in the escalation of Sino-US trade frictions. Informed sources said whether the deal was approved depends on the broader bilateral talks between China and the United States. The deal was subject to the approval of nine regulators. At present, only China has not yet approved.

In recent weeks, Qualcomm has restarted the communication procedures that had been terminated at the end of last year. After entering a dead-end alley last year, the company re-submitted an anti-monopoly application in China in April.

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