Intel gains on Qualcomm approach; experts see antitrust risk
Updates
** Shares of IntelINTC.O rise 3.1% to $22.45, while those of Qualcomm QCOM.O fall 1.9% to $165.69
** QCOMapproached INTC to explore a potential acquisition of the chipmaker; could face toughantitrust scrutiny
** Apollo Global ManagementAPO.N in preliminary talks to invest as much as $5 bln in INTC -Bloomberg News
**In the past, QCOM's actions prevented INTC from entering the cutting edge mobile phone chips, which stunted its growth; "Now QCOM wants to buy its victim" - Fiona Scott Morton, Professor of Economics, Yale School of Management
** QCOM may be looking to diversify its base of outsourced manufacturing supply away from TSMC 2330.TW, given the geopolitical cloud cast by China's intentions toward Taiwan - Russ Mould, investment director, AJ Bell
** An acquisition of this magnitude threatens to upend thousands of jobs, and lead to short-term losses for both companies as they pause production to restructure - Gadjo Sevilla, senior analyst for technology, Emarketer
** Up to last close, INTC down ~57%, vs. Philadelphia SE Semiconductor Index.SOX up ~20% YTD
Reporting by Jaspreet Singh and Nikhil Sharma in Bengaluru
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