EU to Assess Qualcomm’s Planned Takeover of Israel’s Autotalks

BRUSSELS (Reuters) – The European Fee mentioned on Friday it might perform a regulatory evaluation of Qualcomm’s deliberate takeover of Israel’s Autotalks.

“The Fee has requested Qualcomm to inform the transaction. Qualcomm can not implement the transaction earlier than notifying and acquiring clearance from the Fee,” the European Fee mentioned in a press release.

Qualcomm introduced the deliberate takeover in Could because the U.S. firm appears to increase its automotive-related enterprise.

Autotalks makes devoted chips used within the vehicle-to-everything (V2X) communications know-how sector for manned and driverless autos, with a view to enhancing highway security.

(Reporting by Sudip Kar-Gupta; enhancing by Jason Neely)

Copyright 2023 Thomson Reuters.