World Economy

EU Probes Semiconductor Megadeal

EU Probes Semiconductor MegadealEU Probes Semiconductor Megadeal

The EU launched an anti-trust probe into US semiconductor maker Qualcomm’s $47 billion purchase of Dutch rival NXP, the biggest ever in the sector, AFP reported. The European Commission said the “in-depth investigation” was due to concerns that the deal would affect competition and lead to higher prices for consumers. The deal announced in October was aimed at extending Qualcomm’s footprint into the “internet of things”—everyday objects connected to the web—and the automobile sector. “The commission has concerns that the transaction could lead to higher prices, less choice and reduced innovation in the semiconductor industry,” the Brussels-based EU executive said in a statement.

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