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Business deals

China shifts blame to Qualcomm for collapse of NXP deal

Competition authorities say they were willing to negotiate until October

Qualcomm's booth at the China International Big Data Industry Expo in Guiyang, Guizhou Province, China, in May.   © Reuters

TOKYO -- The Chinese government on Friday blamed U.S. chipmaker Qualcomm for the collapse of its takeover bid for Dutch rival NXP semiconductors, saying the U.S. company decided to terminate the merger talks despite a Chinese offer of further consultation.

"The State Administration for Market Regulation hoped to continue to communicate with Qualcomm so that a suitable solution would be found to the problem within the review period," said the organization, one of the main competition bodies in China, in a statement posted on its website.

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