China's State Administration for Market Regulation initiated an investigation into US semiconductor manufacturer Qualcomm Inc. on Friday for suspected violations of antitrust laws, according to Chinese state broadcaster CCTV.
The agency is probing Qualcomm's acquisition of connected-vehicle technology provider Autotalks as it failed to declare the concentration of operators in accordance with local law. The US chipmaker announced the takeover in June.
Qualcomm's shares shed 3% in premarket trading in New York following the announcement.
https://breakingthenews.net/Article/China-opens-antitrust-probe-into-Qualcomm/64959821
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