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Qualcomm abandons NXP takeover, starts USD 30 billion share buyback

2018-07-26 07:10:00| Telecompaper Headlines

(Telecompaper) Qualcomm has abandoned its takeover of NXP Semiconductors after it was unable to obtain regulatory approval in China by the agreed deadline of 25 July. The failure to close the deal, first announced in October 2016, means Qualcomm will pay NXP a termination fee of USD 2 billion. Qualcomm also announced plans to buy back USD 30 billion of its own shares, alongside its results for the fiscal third quarter to June. 

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