According to insiders:
Qualcomm loses interest in Intel takeover
Numerous hurdles in the takeover of stumbling competitor Intel are apparently causing the US semiconductor company Qualcomm to ponder. According to insiders, interest in the project is said to have waned.
This was reported by the news agency Bloomberg on Tuesday, citing people familiar with the matter. The purchase of individual company units could now be under discussion. A complete takeover of Intel would have been one of the largest acquisitions in history in terms of market value. According to the financial news agency, representatives of both companies declined to comment.
The transaction is associated with numerous financial, regulatory and operational hurdles: Among other things, Qualcomm would have to take on Intel's debt of more than 50 billion US dollars. In addition, the group would face lengthy antitrust investigations in China and elsewhere - the People's Republic is a key market for both companies.
Cost-cutting program imposed
Intel is struggling with high losses. According to media reports, Qualcomm approached the former industry leader after it had presented a poor quarterly report including a disappointing sales forecast. Intel announced that it would reduce the number of employees by 15 percent in order to realign itself.
Qualcomm has a market capitalization of a good 176 billion US dollars. Intel is valued significantly lower at around 107 billion dollars. Compared to the industry leader Nvidia, both are miles apart: Nvidia is worth around 3.3 trillion dollars (around 3144.35 billion euros) on the stock market.
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