Qualcomm concessions insufficient to clinch NXP deal -commerce ministry

U.S. chipmaker Qualcomm will have to do more to complete its proposed takeover of NXP Semiconductors, a commerce ministry spokesman said on Thursday. Qualcomm had submitted a remedy plan to resolve competition issues, but an initial investigation found these to be insufficient, said ministry spokesman Gao Feng. Qualcomm refiled an application with the Chinese government on Monday, seeking clearance for its $44 billion takeover of NXP, giving regulators more time to decide on the deal and avert its collapse.