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Broadcom explores deal to buy Qualcomm: Bloomberg
(Reuters) - Broadcom Ltd (AVGO.O) is exploring a deal to buy smartphone chip maker Qualcomm Inc (QCOM.O) and is speaking to advisers, Bloomberg reported on Friday.
No final decisions have been made and there is no guarantee a deal will go ahead, Bloomberg said. bloom.bg/2h8pnlS
Shares of Qualcomm jumped 18 percent, while Broadcom’s stock climbed 3.5 percent on Friday afternoon.
The news comes at a time when Qualcomm is already in the process of completing its $38 billion acquisition of NXP Semiconductors NV (NXPI.O). Shares of NXP fell 3 percent.
Qualcomm declined to comment, while Broadcom did not immediately respond.
The report also comes when Qualcomm faces a multi-national legal battle with Apple Inc (AAPL.O) over Qualcomm’s licensing terms to Apple.
Reporting by Sonam Rai in Bengaluru; Editing by Sai Sachin Ravikumar
Our Standards:The Thomson Reuters Trust Principles.
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