China reviewing Qualcomm's bid to buy NXP Semiconductors: MOC

Updated 2018-04-20 09:15:02 Xinhua

China is reviewing U.S. smartphone chip supplier Qualcomm's bid to acquire its Dutch rival chipmaker NXP Semiconductors based on anti-trust laws, the country's Ministry of Commerce (MOC) said Thursday.

The company has to receive approval from market regulators in nine countries to seal the deal.

The acquisition might lead to a major impact on the market and compromise competition, said MOC spokesperson Gao Feng.

Gao said it will take time for regulators to investigate and analyze the case, and the MOC has talked with Qualcomm over reducing unfavorable influences of the acquisition.

Investigators have decided that the company's remedy proposal might not help address market competition concerns, Gao said.

Qualcomm has withdrawn its previous acquisition application and resubmitted a new one to the MOC. The MOC will conduct an open and fair anti-monopoly investigation on the issue, he added.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58October 22 2018 06:45:18

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16October 22 2018 06:45:18

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18October 22 2018 06:45:18

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords