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Sunday, 19 Aug 2018

President Donald Trump has rejected the offer of the Singapore-based Broadcom Company

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Donald TrumpDonald Trump

News24xx.com - President Donald Trump has rejected the offer of the Singapore-based Broadcom company, which proposed the takeover of a rival US company for Qualcomm chips worth 140 billion pounds (100 billion pounds sterling) on grounds of national security.

His order cited "credible evidence" that a takeover "threatens to impair the national security of the US".


Qualcomm was already trying to fend off Broadcom's offer.

The deal would have created the world's third largest chipmaker in the world after Intel and Samsung. It would also have been the largest takeover the technology sector had ever seen.

The Presidential order said : "The proposed takeover of Qualcomm by the Purchaser (Broadcom) is prohibited, and any significant equivalent merger, acquisition or acquisition, whether effected directly or indirectly, is also prohibited."

Some analysts said President Trump's decision was based more on competitiveness and victory in the race for 5G technology than on caring for security issues.


Some analysts said President Trump's decision was more about competitiveness and winning the race for 5G technology, than security concerns.

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