July 27, 2018 / 12:34 AM / 2 years ago

China says Qualcomm-NXP antitrust proposals insufficient, still hopes to find solution

SHANGHAI, July 27 (Reuters) - China's market regulator said on Friday proposals from Qualcomm Inc and NXP Semiconductors to solve antitrust concerns around their now scrapped $44 billion merger had not been sufficient, but it still hoped to find a solution.

China's State Administration for Market Regulation said in a statement it hoped to continue to communicate with the two firms, which had abandoned the deal on Thursday after failing to get China's approval.

Qualcomm, the world's biggest smartphone-chip maker and Netherlands-based NXP confirmed in separate statements on Thursday that the deal, which would have been the biggest semiconductor takeover globally, had been terminated. (Reporting by Adam Jourdan; Editing by Muralikumar Anantharaman)

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