TRUMP BLOCKS QUALCOMM TAKEOVER

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By Miriam Raftery

March 13, 2018 (San Diego) – President Donald Trump has blocked a takeover of Qualcomm by Singapore-based Broadcom, which would have been the biggest technology merger in history.

In a a presidential order, Trump cited “credible evidence” that if Broadcom acquired Qualcomm, the foreign corporation “might take action that threatens to impair the national security of the United States.”

Trump also cited a recommendation by the Committee on Foreign Investment in the United States as a rationale behind is decision. The Committee had cited concerns including Qualcomm’s 5G wireless technology

In San Diego, opposition to the merger was bipartisan. Both Republican Congressman Duncan Hunter and Democratic Congressman Scott Peters had written letters urging that the merger be blocked.

Qualcomm founder Irwin Jacobs told the Diego Union-Tribune, “We are celebrating,” adding, “There are a lot of happy people in San Diego and at Qualcomm right now.”