trending Market Intelligence /marketintelligence/en/news-insights/trending/y-sb4mukvixmzb-w_heafa2 content esgSubNav
In This List

NXP sells 40% stake in China JV as Qualcomm deal awaits Chinese approval

Blog

Gold - Geopolitical tensions and inflation remain key drivers

Blog

Lithium and Cobalt - Softer demand weighs on prices

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds


NXP sells 40% stake in China JV as Qualcomm deal awaits Chinese approval

NXP Semiconductors NV sold its 40% stake in China-based chip-design joint venture Suzhou ASEN Semiconductors Co. Ltd. to its venture partner Advanced Semiconductor Engineering Inc. for $127 million.

The move would lower the semiconductor manufacturer's exposure to the Chinese market and reduce some competition concerns. China's commerce ministry is the only regulator out of a total of nine that has not yet approved QUALCOMM Inc.'s $44 billion pending acquisition of NXP, Reuters noted.

The deal is awaiting approval from Chinese regulators at a time when trade tensions between the U.S. and China have risen. The U.S. government blocked Singapore-based Broadcom Ltd.'s proposed takeover of Qualcomm on national security concerns.