US President Donald Trump rejected the Singaporean chip maker Broadcom’s bid for its US rival Qualcomm, citing national security concerns.
According to the Committee on Foreign Investment in the United States (CFIUS), the move would offer an advantage to China in the technological competition with the United States.
CFIUS had concerns that the acquisition of semiconductor giant Qualcomm could trigger a decrease in the chipmaker's competitiveness with less research and development.
The potential deal between Qualcomm and Broadcom could have become the largest in the industry. It was estimated at $117 billion. Qualcomm’s products proved essential technology components of 5G wireless networks.
