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Trump blocks Broadcom takeover of Qualcomm on 'national security' grounds

This is the fifth time a US President has blocked a deal based on CFIUS objections and the second deal Trump has stopped since assuming office


US President Donald Trump on Monday blocked microchip maker Broadcom Ltd's proposed takeover of Qualcomm Inc on national security grounds, ending what would have been the technology industry's biggest deal ever amid concerns that it would give China the upper hand in mobile communications. The presidential order reflected a calculation that the United States' lead in creating technology and setting standards for the next generation of mobile cell phone communications would be lost to China if Singapore-based Broadcom took over San Diego-based Qualcomm, according to a ...

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First Published: Tue, March 13 2018. 20:39 IST