Qualcomm offers EU concessions over $38 billion NXP takeover bid

BRUSSELS (Reuters) – U.S. smartphone chipmaker Qualcomm has offered concessions in an attempt to allay EU antitrust concerns over its $ 38-billion bid for NXP Semiconductors, the largest ever in the semiconductor industry.

Qualcomm, which supplies chips to Android smartphone makers and Apple, submitted its proposal on Oct. 5, a filing on the European Commission site showed on Monday, without providing details.

The EU competition enforcer, which suspended the deadline for its decision on Aug. 17 for a second time while waiting for information data from Qualcomm, said it would set a new deadline once the company has complied with its request.

The Commission is expected to seek feedback from rivals and customers in the coming days. It is concerned the combined company may use incentives to squeeze out rivals and raise prices, as well change NXP’s intellectual property licensing model.

Reporting by Foo Yun Chee; editing by Jason Neely

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Tech

Alibaba raising stake in Cainiao to majority, investing $15 billion to grow logistics

HONG KONG (Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd is raising its stake in logistics affiliate Cainiao Smart Logistics Network Ltd to 51 percent from 47 percent by investing 5.3 billion yuan ($ 801.21 million), Alibaba said on Tuesday.

Alibaba also said in a statement it will invest another 100 billion yuan ($ 15.12 billion) in the next five years to expand its global logistics network.

The additional investment will be used in research and development of Cainiao’s logistics data technology, and smart warehousing and smart delivery development, among other things, it said.

Alibaba co-founded Cainiao in 2013, with partners including department store owner Intime Group, conglomerate Fosun Group and a few logistics companies.

Reporting by Kane Wu; Editing by Muralikumar Anantharaman

Our Standards:The Thomson Reuters Trust Principles.

Tech

Oracle to buy cloud provider NetSuite for $9.3 billion

Oracle has entered into an agreement to buy NetSuite, which provides cloud-based accounting, enterprise resource planning, customer relationship management, and other business software packages, for US$ 9.3 billion.

The NetSuite package of products is complementary to Oracle’s cloud products and the companies’ cloud packages will “coexist in the marketplace forever,” Mark Hurd, Oracle’s CEO, said in a press release.

The deal will allow Oracle to serve a broader range of customers, including smaller businesses, and expand to more industries and more countries, the company said. Asked what additional advantages the deal brings, and Oracle spokeswoman said, “We are declining additional comment today.”

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