Alert: Passing Chinese regulators to approve Qualcomm to purchase NXP

According to the South China Morning Post, the decision of the Chinese Ministry of Commerce or the 'Ministry of Commerce' cleared the months-long antitrust roadblock caused by the tense trade relationship between the United States and Beijing and will allow the acquisition to continue.

In order to reach an agreement, the details of Qualcomm’s consent to divest which assets have not been disclosed, and the timing of the merger was not announced.

China’s approval of M&A was shortly after the U.S. Department of Commerce and China’s telecom equipment maker ZTE reached an agreement. After the U.S. supplier’s suspension due to violation of the terms of the sanctions agreement, it was saved from the brink of collapse.

Representatives of Qualcomm and NXP Semiconductors did not immediately respond to the request to comment on Thursday.

China’s Ministry of Commerce did not reply immediately to emails outside business hours.