EU antitrust regulators have approved US smartphone chipmaker Qualcomm’s planned US$38 billion acquisition of NXP Semiconductors subject to a series of commitments Qualcomm has made.
Qualcomm said the European Union clearance, along with approval earlier on Thursday, January 18, from the Korea Fair Trade Commission, meant it now had eight of nine approvals, with just China remaining. It said it was optimistic that approval would come soon.
Qualcomm, which supplies chips to Android smartphone makers and Apple, is set to become the leading supplier to the fast-growing automotive chip market following the deal, the largest-ever in the semiconductor industry
The European Commission said in a statement on Thursday it had identified a number of competition concerns that had led to an in-depth investigation, but was now satisfied with the deal.
“We use our smartphones for many different things and now also more and more as mobile wallets, to pay for public transport or make other secure payments,” said European Competition Commissioner Margrethe Vestager.
Full Content: The Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Chamber of Commerce Sues to Overturn FTC Non-Compete Ban
Apr 24, 2024 by
CPI
FTC Chief Warns of Healthcare Price Fixing Risks Amid Tech Advancements
Apr 24, 2024 by
CPI
Amazon’s Investment in Anthropic Faces Antitrust Scrutiny
Apr 24, 2024 by
CPI
Italian Antitrust Authority Fines Amazon €10 Million for Unfair Trade Practices
Apr 24, 2024 by
CPI
Tuta Mail Raises Alarm Over Google Search Ranking Plunge Amidst DMA Rollout
Apr 24, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI