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Trump Blocks Broadcom Takeover of Qualcomm Over National Security Concerns

WorldNews Tuesday, 13 March 2018
Trump Blocks Broadcom Takeover of Qualcomm Over National Security ConcernsUnited States President Donald Trump stepped in to block the semiconductor maker Broadcom Ltd's takeover of Qualcomm Inc. on Monday due to national security concerns, thwarting what would have been the technology industry's largest deal ever, according to CNN. The presidential order blocks the Singapore-based Broadcom's $117 billion attempt to buy San Diego-based Qualcomm over concerns about the U.S.'s ability to set the next generation of technological standards for the upcoming generation of mobile cell phones amid intense competition with Chinese companies. Qualcomm has emerged as one of the largest competitors to China's Huawei Technologies Co. in the sector, which makes Qualcomm a...
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Source: Newsy Studio - < > Embed
News video: Trump Blocks Qualcomm Sale, Cites National Security Concerns

▶ Trump Blocks Qualcomm Sale, Cites National Security Concerns 00:35

This isn't the first time the president has blocked a foreign buyer from buying a U.S.-based company.

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