The China Market Regulatory Authority said on its website Friday that the mergers and acquisitions of Qualcomm and NXP in the Netherlands could not resolve antitrust concerns, but hope to continue to talk with the two companies.
Qualcomm's acquisition needs to be approved by nine countries related to this. The other eight countries have approved, only China has delayed review on the grounds of anti-monopoly. Analysts speculate that China's delay is related to the tariff conflict between the United States and China. .
The Chinese government denied Thursday that the delay in approving the acquisition was related to the trade war between the United States and China.
US chip company Qualcomm said on Wednesday it would abandon its plan to buy NXP Semiconductors for $44 billion because China, one of the countries that must approve the agreement, refused to approve the acquisition.
The merger will expire at 11:59 pm on Wednesday night, which has been 21 years since Qualcomm first proposed the acquisition of Dutch chip company NXP. Previously, Beijing did not express its opinion on M&A, and Qualcomm believed that Beijing was not ready for approval.
Qualcomm CEO Steven Morenkov said in a statement on Wednesday afternoon: 'If there is no change, we are going to terminate the contract for the acquisition of NXP at midnight today. ' If it is cancelled, Qualcomm will also pay for NXP. $2 billion in cancellation fees.
Headquartered in San Diego, Calif., Qualcomm is a global leader in 3G, 4G and 5G technologies, providing technology licensing to some of the world's largest manufacturers, covering virtually all telecommunications equipment and consumer electronics in the world. Brand.
The acquisition of NXP Semiconductors is critical to Qualcomm's expansion of its chip business footprint. Qualcomm chips focus on mobile computing and communications, while NXP chips focus on smart cars, the Internet of Things, mobile payments and more.