July 25, 2018 / 7:57 AM / a month ago

China says departments have had good communication with Qualcomm on NXP deal

BEIJING (Reuters) - China’s foreign ministry said on Wednesday that relevant departments reviewing U.S. chipmaker Qualcomm Inc’s (QCOM.O) proposed $44 billion takeover of Dutch company NXP Semiconductors NV (NXPI.O) have had good communication with Qualcomm over the issue.

FILE PHOTO: A sign on the Qualcomm campus is seen in San Diego, California, U.S. November 6, 2017. REUTERS/Mike Blake/File Photo

Ministry spokesman Geng Shuang made the comment at a daily news briefing in Beijing.

China is the only hold-out from eight of the nine required global regulators to approve the deal. Qualcomm and NXP had agreed they would call off the deal if they could not win Chinese regulatory approval by July 25.

Reporting by Ben Blanchard; Writing by Michael Martina; Editing by Muralikumar Anantharaman

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