BRUSSELS (Reuters) - U.S. smartphone chipmaker Qualcomm (QCOM.O) said on Friday it was confident it would addressed EU antitrust concerns about its $38-billion bid for NXP Semiconductors (NXP.N), after EU regulators started an investigation into the deal.
“This acquisition is complementary,” the company said in a statement. “Qualcomm continues to expect this transaction to close by the end of 2017.”
The European Commission cited a series of worries about the combined company’s market power and ability to block rivals and hike prices.
Reporting by Foo Yun Chee, Editing by Gabriela Baczynska