Qualcomm Reportedly To Refile China Antitrust Application For NXP Takeover

(RTTNews) - Qualcomm Inc. (QCOM) will refile an application with China's government seeking approval for its takeover of NXP Semiconductors, according to reports.

Securing regulatory approval from China is the final hurdle for Qualcomm in its bid to clinch a $44 billion takeover of NXP Semiconductors. The deal was given approval by eight of the nine global regulators required.

However, the process has been held up by China's Ministry of Commerce or Mofcom as trade tensions behind the country and the US heighten.

The reports said that Qualcomm withdrew an earlier application this weekend following a request by the commerce ministry, as a deadline of 17 April to rule on the deal approached.

The reports noted that Qualcomm will now refile its application, which will give Mofcom another six months to review the tie-up and thus avoid an entire collapse.