China is yet to approve U.S. chipmaker Qualcomm Inc's proposed $44 billion acquisition of NXP Semiconductors, three people close to the talks said, dismissing an earlier media report that said Beijing had already greenlit the deal. Chinese clearance would remove a long-running roadblock to the deal that has become entangled with broader trade tensions between the United States and China.
The acquisition has already got a nod from eight of the nine required global regulators, with China being the only hold-out. Hong Kong-based South China Morning Post reported on Friday morning that China had given its go-ahead to the deal, citing people with knowledge of the matter, driving up shares of the U.S. firm in extended trade. But Reuters sources, who are close to the Qualcomm-NXP deal, said they were not aware of any Chinese approval. One of them said planned U.S. tariffs on Chinese goods expected to be unveiled later in the day could impact the process.
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