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EU regulators to rule on $38 billion Qualcomm, NXP deal by June 9
May 2, 2017 / 10:10 AM / 7 months ago

EU regulators to rule on $38 billion Qualcomm, NXP deal by June 9

BRUSSELS (Reuters) - EU antitrust regulators will decide by June 9 whether to clear smartphone chipmaker Qualcomm’s $38 billion (£29.4 billion) bid for NXP Semiconductors NV, which would make it the leading supplier to the fast-growing automotive chips market.

A Qualcomm sign is pictured at one of its many campus buildings in San Diego, California, U.S. April 18, 2017. REUTERS/Mike Blake

Qualcomm, which provides chips to Android smartphone makers and Apple Inc, sought EU approval for the deal on April 28, a filing on the European Commission website showed on Monday.

The EU competition enforcer can either approve the deal with or without concessions or it can open an investigation lasting about five months if it has serious concerns.

Qualcomm has said the deal, the biggest ever in the semiconductor industry, is a complementary one. The U.S. antitrust watchdog cleared the deal unconditionally last month.

Reporting by Foo Yun Chee; Editing by Mark Potter

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