Qualcomm-NXP antitrust proposals insufficient, still hopes to find solution

Qualcomm, the world's biggest smartphone chip maker, and Netherlands-based NXP confirmed in separate statements on Thursday

China's market regulator said on Friday proposals from Qualcomm Inc and NXP Semiconductors to solve antitrust concerns around their now scrapped USD 44 billion mergers had not been sufficient, but it still hoped to find a solution.

China's State Administration for Market Regulation said in a statement it hoped to continue to communicate with the two firms, which had abandoned the deal on Thursday after failing to get China's approval.

Qualcomm, the world's biggest smartphone chip maker, and Netherlands-based NXP confirmed in separate statements on Thursday that the deal, which would have been the biggest semiconductor takeover globally, had been terminated.

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