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Trade war

China now 'open' to Qualcomm-NXP deal, White House says

Beijing changes tune on $44bn acquisition as trade war eases

Chinese authorities previously failed to approve Qualcomm's bid to acquire NXP.   © Reuters

PALO ALTO, U.S. -- Chinese President Xi Jinping said he is "open to approving" Qualcomm's purchase of Netherlands-based NXP Semiconductors should it be presented to him again, a deal essentially killed by Beijing, according to a White House statement following Xi's meeting with U.S. President Donald Trump on Saturday.

The old $44 billion deal had gotten the green light from European, American and Japanese antitrust authorities, only to fall through after China failed to approve it before the companies' July 25 deadline.

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