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China keeps Qualcomm guessing on NXP fate as bid enters final hours

China keeps Qualcomm guessing on NXP fate as bid enters final hours

China keeps Qualcomm guessing on NXP fate as bid enters final hoursBEIJING/NEW YORK (Reuters) – Qualcomm Inc (QCOM.O) is yet to win China’s nod to buy Dutch chipmaker NXP Semiconductors (NXPI.O) even as a deadline for the offer to expire is just hours away, raising the prospect the deal could be scuppered amid Sino-U.S. trade tensions. The $44 billion deal was announced in October 2016, just days before the election of U.S. President Donald Trump and has since become embroiled in a whipsawing trade standoff between two countries who are at loggerheads over trade tariffs and have clashed on issues such as ownership of technology and patents. Qualcomm, the world’s biggest maker of chips for mobile phones, and NXP said in April they would call off the deal if they were unable to win Chinese regulatory approval by July 25, 2359 eastern U.S. time.

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