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Intel denies plans to buy Broadcom

2018-03-12 15:40 by
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Despite recent speculations that Intel is going to make a bid for rival Broadcom, the chip giant denied those rumors. Intel, the world's biggest chipmaker, is worried that a combined Broadcom-Qualcomm would make it harder for it to boost market share in chips for mobile phones and cars. By swallowing Broadcom, Intel could scupper the creation of a more powerful rival that would be the world's third-largest chipmaker, after Intel itself and Samsung.

However, Intel said it does not comment on "rumors or speculation" related to mergers and acquisitions but that it is focused on its previous acquisitions.

"We have made important acquisitions over the past 30 months - including Mobileye and Altera - and our focus is on integrating those acquisitions and making them successful for our customers and shareholders," Intel said in a statement to Reuters.

Meanwhile, Broadcom's efforts to take over Qualcomm are currently being investigated by the Committee on Foreign Investment in the U.S. (CFIUS), an interagency panel chaired by the Treasury Department tasked with investigating foreign deals for U.S. companies. The committee put a halt to Broadcom's campaign last week in order to investigate the potential deal over national security concerns.

Read more -here-

 

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