BRUSSELS (Reuters) – The European Commission said on Friday it would carry out a regulatory assessment of Qualcomm’s planned takeover of Israel’s Autotalks.
“The Commission has asked Qualcomm to notify the transaction. Qualcomm cannot implement the transaction before notifying and obtaining clearance from the Commission,” the European Commission said in a statement.
Qualcomm announced the planned takeover in May as the U.S. company looks to expand its automotive-related business.
Autotalks makes dedicated chips used in the vehicle-to-everything (V2X) communications technology sector for manned and driverless vehicles, with a view to improving road safety.
(Reporting by Sudip Kar-Gupta; editing by Jason Neely)
