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China resumes Qualcomm-NXP deal review: Bloomberg

Reuters  |  BEIJING 

(Reuters) - has resumed its review of U.S. chipmaker Inc's proposed $44 billion takeover of NV, reported on Monday, citing unidentified sources.

China's commerce ministry has been asked to speed up the review of the deal and Qualcomm's proposed remedies to protect local companies, reported, adding local firms have voiced worries the deal would extend Qualcomm's patent licensing business into areas such as mobile payments and autonomous driving.

It did not say who has asked the ministry to speed up the review, or what has proposed.

refiled its application for the deal in April, giving regulators more time to decide. The commerce ministry later that month said Qualcomm needs to do more to complete the takeover because the U.S. company's initial set of remedies to resolve competition issues were insufficient.

Approval of the deal is not definite and still could be delayed, said, citing the sources.

(Reporting by Monitoring Desk)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 14 2018. 10:51 IST