Bloomberg: China regulators want more QCOM concessions in NXP bid

|About: NXP Semiconductors (NXPI)|By:, SA News Editor

China regulators want more concessions from Qualcomm (QCOM -0.8%) in its NXP Semiconductors (NXPI -0.6%) bid to protect local companies better.

Bloomberg sources say local companies are concerned that the combined entity would extend Qualcomm’s patent licensing into mobile payments and self-driving systems.

The Chinese government is reportedly raising up to $31.5B to invest in local chip companies like Unigroup Guoxin and Shanghai Belling Co.

Qualcomm needs to close the NXP acquisition to have a stronger position as a standalone company. President Trump blocked Broadcom’s bid for Qualcomm, but Qualcomm had already promised shareholders strong performance in the future and will still have to meet those metrics.   

Previously: CNBC confirms QCOM chair seeks leveraged buyout; NXP bid heads wrong way (March 16)