Trump blocks Broadcom's bid for Qualcomm

Last Updated: Mar 13 2018 16:44

WASHINGTON- US president Donald Trump has blocked Singapore based Broadcom's bid to buy chipmaker Qualcomm citing national security.

In his order, he said there are credible evidences that the proposed $140bn (£100bn) takeover "threatens to impair the national security of the US."

The deal when completed would have been the biggest technology sector takeover on record, making the new entity third largest behind Intel and Samsung. 

But there were possible concerns that China might have used the deal to pull ahead in the development of 5G wireless technology.