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(Reuters) – Chinese regulators have approved U.S. chipmaker Qualcomm Inc’s (QCOM.O) proposed $44 billion merger deal with NXP Semiconductors (NXPI.O), South China Morning Post reported on Thursday, citing people with knowledge of the matter.
The decision by China’s Ministry of Commerce clears a months-long antitrust roadblock caused by trade tensions between the United States and Beijing and will allow the takeover to proceed, SCMP reported. (bit.ly/2l87thk)
With the green signal from China’s Ministry of Commerce, the deal has effectively been approved by all nine required global regulators.
Qualcomm initially announced its bid for Dutch semiconductor company NXP Semiconductors in October 2016.
Qualcomm was not immediately reachable for comment.
Reporting by Nikhil Subba in Bengaluru; Editing by James Dalgleish