Qualcomm will abandon the agreement with NXP :: Investor.bg

. China was the last of the nine markets to approve the deal. It would be among the most important among technology companies, recalls the Wall Street Journal. The acquisition was announced in October 2016 and expanded in April when chip manufacturers have sought the approval of Chinese competition regulators

Instead, the deal was sacrificed in the Beijing-Washington trade battle.

Qualcomm said on Wednesday that it would not extend the agreement that was due to expire after midnight, although it admitted that it was delaying its decision as it expects to new major events.

Qualcomm's decision to withdraw follows strong pressure from senior US officials, including Finance Minister Steven Manouchin and Trade Minister Wilbur Ross, who are trying to persuade their Chinese colleagues to separate the process from

CEO Steve Molenkoff told badysts that Qualcomm's decision is "difficult", but the company does not believe that "in today's geopolitical environment, it is likely a score "

Strike agreement places leading US tech company tops the list of people affected by the commercial battle, which led to billions of US and Chinese dollars in a number of industries

.This is not just a trade war, "said Esvar Prasad, an economist at Cornell University, who was an expert on the International Monetary Fund. ational for China. "This is an increasingly open economic conflict between the two countries. The collapse of the agreement is certainly a strong signal that China will use all the available leverage, "he explains.

The Chinese Embbady in the United States does not respond to WSJ's Demand, Negative Consequences Difficult to Solve

Qualcomm said it planned to spend up to $ 30 billion to buy back its own shares in order to attract shareholders by replacing the plan current repayment of $ 10 billion.The failure of the proposed merger also requires the San Diego chip maker to pay a $ 2 billion penalty to NXP on the basis of the agreement renewed in April

minutes before announcing the failure of the transaction .41% in the fourth quarter, with 4% growth in turnover, with a significant gain in earnings partly reflecting the effects last quarter, the first of the year s without the patents of Apple Inc.

and Qualcomm told badysts that they were expecting that their models would not be used on the next iPhone expected by investors

The collapse of NXP marks a remarkable period for Qualcomm, the largest manufacturer of communications chips used in smartphones and [4] Just four months ago, Donald Trump's administration stepped in to save Qualcomm a hostile takeover by Broadcom Ltd.

worth $ 117 billion on the grounds that Qualcomm's technology is essential to the national security of the United States.

Qualcomm is the US leader in the development of the so-called "5G or 5G cell technology to help connect new peripherals to wireless networks, and the White House intervention effectively identifies Qualcomm as a national leader who is essential to fight the growth of Chinese power in the sphere 5G.

Qualcomm himself called the case for NXP, announced 12 days before Donald Trump was elected president, transforming, expanding its reach beyond smartphones into areas such as cars and smart home appliances.The agreement would add a business with revenue of $ 9.26 billion last year, and approximately 30,000 employees at Qualcomm, which had revenues of $ 22.29 billion for the last fiscal year, and a similar number of employees

with more than 5 percent in the sessi we post-pay close to $ 63 in cash, although they remain below the $ 69 level since January. The stock of NXP has decreased by more than 3%