NXP jumps on report Qualcomm deal is ‘looking more optimistic’

Dutch semiconductor company NXP is jumping on a report that its proposed deal with U.S. chip giant Qualcomm is “looking more optimistic.”

Shares jumped roughly 4 percent on the update, attributed to an anonymous Beijing official and included in a WSJ report about broader U.S.-China trade talks.

The proposed merger has been waiting for months on regulatory approval out of China.

Qualcomm CEO Steve Mollenkopf told CNBC in April that broader trade tensions between the two tech-heavy countries were stalling the deal.

“I think it’d be a very unusual situation for the rest of the world to approve something and then China not do it,” Mollenkopf said at the time. “It’s a good situation for China to get this deal done, and you know I have confidence that that’ll happen.”

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