FTC to probe Qualcomm’s auto-chip deal
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 23 August 2023
⏱️ 7 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Wednesday, August 23rd, and I'm your host Julie Morgan. |
| 0:12.0 | The FTC is reportedly set to investigate Qualcomm's planned purchase of Auto Talks. |
| 0:18.0 | Venfast is rising fast and essay analysts are skeptical to say the least. And Goldman Sachs is |
| 0:25.0 | Sachs is sending a reminder to all employees to get back to work. |
| 0:30.0 | Here's what's making headlines today. |
| 0:32.3 | Qualcomm is reportedly headed for a comprehensive investigation of its planned purchase of |
| 0:37.5 | Autotox. |
| 0:38.6 | Autox is an Israeli chipmaker focused on automotive safety. |
| 0:43.0 | Political reported that the Federal Trade Commission has weighed a more advanced |
| 0:47.2 | probe and it's set to open that investigation today. |
| 0:51.0 | The Auto Talks deal is intended to shore up Qualcomm's business focused on |
| 0:55.3 | V2X or vehicle to everything communications. According to the Auto Talks |
| 1:00.3 | website, V2X enables vehicles to communicate with one another and their environment. |
| 1:06.5 | Such a probe would allow the announcement of a thorough review of the deal at the European Commission, |
| 1:12.0 | which is concerned about combining two key |
| 1:14.2 | suppliers of V2X chips to Europe. |
| 1:17.2 | According to the report while Qualcomm and Auto Talks had highlighted support from |
| 1:22.2 | automakers and parts makers in |
| 1:24.4 | announcing the deal it faced anonymous complainants one of which is |
| 1:28.7 | media tech a lengthy probe could set Qualcomm's deal by months or even longer. |
| 1:35.0 | Then Fast Auto closed on Tuesday with a monster 109% gain that pushed the market cap to over $90 billion. |
... |
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