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As Qualcomm Deal Is Scrapped, China Denies Trade Link

Delays in China that led Qualcomm to call off its acquisition of a rival microchip maker had nothing to do with escalating trade tensions with the United States, a spokesman for the Chinese Commerce Ministry said on Thursday.Qualcomm and NXP Semiconductors first announced their $44 billion union nearly two years ago. Qualcomm is based in San Diego and NXP in the Netherlands, but both do significant business in China, which is why its antimonopoly authorities had say over whether the deal would go through.But as frictions between the United States and China intensified this year, Beijing’s prolonged antitrust review came to be seen as a form of…

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