The Chinese communist regime has launched an antitrust investigation into Qualcomm, targeting another U.S. chip giant amid ongoing trade tension with Washington.
The regime’s State Administration of Market Supervision said in a brief statement on Oct. 10 that the probe is related to Qualcomm’s acquisition of Israeli vehicle chipmaker Autotalks, a deal unveiled four months ago.
The regime’s regulator said it would examine potential breach of the country’s anti-monopoly law in the takeover.
Shares of Qualcomm, a major supplier of smartphone chips, were down 2.8 percent in U.S. premarket trading.
Qualcomm said in June that it had completed a deal to buy Autotalks, a company specializing in developing chips to improve road safety through vehicle-to-everything (V2X) communication technologies, enabling cars to interact with each other and the surrounding environment. Qualcomm, based in San Diego, California, didn’t disclose the size of the transaction….
China Opens Antitrust Investigation Into US Chipmaker Qualcomm
