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Trump Blocks Broadcom-Qualcomm Deal

Qualcomm may finally be able to start breathing easy again. Citing national security concerns, the Trump administration is blocking Singapore-based Broadcom’s hostile bid to acquire Qualcomm for $117 billion, reports Bloomberg. Broadcom had been aggressively pursuing the San Diego-based mobile chipmaker since November. The Committee on Foreign Investment in the U.S. had been investigating the deal and recommended scuttling the deal. Qualcomm is a strategic player in the development of the next generation of wireless internet technology, called 5G, and the U.S. government doesn’t want to give that up. China is keen to also take the lead in 5G developments with domestic giants like Huawei making huge investments in the wireless technology.

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