Trump fears China winning on 5G if Broadcom takes over Qualcomm

Trump fears China winning on 5G if Broadcom takes over Qualcomm

Qualcomm had previously rejected Broadcom's bids on the grounds that they significantly undervalued the company and fell short of regulatory antitrust requirements, although publicly the company remained open to a potential deal. Furthermore the candidates that Broadcom was running for Qualcomm's board of directors are barred from participating in that election, and Qualcomm can not accept their nominations.

Broadcom has yet to comment on the CFIUS order.

In order to reduce USA national security concerns, Broadcom has made a decision to move its headquarters to the United States from Singapore by April.

Shortly after the CFIUS handed down its decision, Broadcom went on the attack, alleging that Qualcomm went behind its back and basically "cried" to the regulatory board to take action.

In his presidential order, Trump cited "credible evidence" that the takeover "threatens to impair the national security of the United States".

For its part, Broadcom said it's reviewing the order and strongly disagrees that the deal raises national-security concerns.

Qualcomm has emerged as one of the biggest competitors to China's Huawei Technologies in the semiconductor sector.

President Trump has blocked Broadcom's unsolicited, $117 billion takeover bid for Qualcomm, citing national security concerns. Tan argued that combining Broadcom and Qualcomm would further USA interests by advancing the development of the next generation of wireless technology known as 5G, according to a person familiar with the meeting.

President Trump issued a presidential order barring Broadcom from purchasing Qualcomm.

In an effort to alleviate these concerns, Broadcom has been rushing to redomicile (legally move the company) to the United States.

Trump and his administration have said that Qualcomm's role in moving America to the next generation of cellular communications called 5G is too critical to the health of the nation and its economy to tolerate any foreign interference.

"Qualcomm has become well-known to, and trusted by, the US government", said Deputy Assistant Secretary for Investment Security Aimen Mir.

The order also states that Broadcom will not be allowed to purchase or merge with Qualcomm in any way and that all of the people Broadcom has proposed to Qualcomm's board are disqualified.

That's why the U.S. Treasury-led Committee on Foreign Investment in the United States was able to get involved. Last week the president made official plans to put tariffs on imported steel and aluminum, saying foreign dumping was crippling USA steel and aluminum manufacturers and putting American national security at risk. Broadcom also promised not to sell off any "critical national security assets" to foreign firms.



Related Posts

Tiger Woods within striking distance of first win since 2013
Yeah, wasn't - didn't get too excited out there, try to stay level-headed and keep doing what I was doing. This Topic is Missing Your Voice. . "I know it's packed up there but at least I got a shot".

Big 12: Kansas State Wildcats vs. Kansas Jayhawks
Williams led TCU , earning his 13th double-double this season and 34th of his career with game-highs of 20 points and 10 rebounds. In practice before we came up here (for tournament) I told him, "Stop passing the ball, just shoot it.' He's shooting it".

'American Idol' and 'Timeless'
Cute little viral "moments" may inspire short-term chatter, but compelling, magical stories are what make shows like this matter. McKinney's own Kristyn Harris will showcase her talent on " American Idol " on the March 18 episode in her celebrity audition.

Syracuse earns NCAA tournament bid, will play Arizona State Wednesday
Florida , Florida State and Miami - a No. 6 seed in the South Region - were the only schools from Florida to earn invitations. The Gators have faced UCLA four times since 2006, with all four meetings coming in the NCAA Tournament.

Ontario PC Party rally behind new leader
Some are already disappointed with the new PC leader even before he starts his campaign. Ford won by a slim, 153 vote margin. Elliott, who visited Sault Ste.

Bears among four Big 12 teams on NCAA tournament bubble
The four projected No. 1 seeds by ESPN's Joe Lunardi are all program-coach combinations with unreliable NCAA tourney pedigrees. Alabama's Collin Sexton had one thing to say after another incredible performance: "Don't count us out".

BJP fields 11 candidates against 10 Rajya Sabha seats, forces polls
In Gujarat where it has fielded an extra candidate, the party hopes to bank in on the discontentment among the Congress leaders. Chandresekhar's nomination figures on top of a list of 10 points the Congress hurled against the BJP in a charge sheet.

Trump to meet Saudi crown prince on March 20: White House
The White House is pushing for federal funding for training and arming voluntary teachers to help protect students at schools. It comes just weeks after he taunted legislators, saying that they were "afraid of the NRA ", while he was not.

Manchester United vs Sevilla Preview
And Jose Mourinho's team will go into the game full of confidence off the back of Saturday's 2-1 win over arch-rivals Liverpool . I think we're not one of the best teams in the competition but when a team arrives in the last eight, anything can happen.

Florida Lawmakers Pass Gun-School Safety Bill 3 Weeks After Massacre
United States citizens must come to terms with the fact that their Second Amendment right to bear arms is literally backfiring. Democrat member Joseph Geller described the guardian programme as a " poison pill " in an otherwise necessary bill.

© 2015 Stocks News Daily. All Rights reserved.