The long-awaited acquisition of Dutch NXP Semiconductors by US telecoms company Qualcomm could be on the verge of approval, the Wall Street Journal reports, as China’s antitrust regulators meet company representatives on Monday.
Qualcomm have been pursuing Beijing’s approval of the $44 billion deal for months after it received the green light from eight other major antitrust committees from around the world. Acquiring semiconductor giant NXP is thought to be a key move as Qualcomm tries to expand into sectors outside smartphones.
China’s State Administration for Market Regulation has previously expressed reservations regarding the market influence a Qualcomm-NXP alliance would wield, particularly on local businesses in the mobile payments sector. However, Monday’s meeting suggests that Beijing is easing its stance towards US companies in the recently-controversial tech industry.