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Qualcomm sees CEO path 'no value' to in Broadcom tie-up

Washington (AFP) Qualcomm - executive chief Steve on Mollenkopf Thursday reaffirmed opposition his a to hostile takeover bid computer from chip Broadcom, rival the saying deal offers "no path real to value."

The comments days came after Singapore-based escalated Broadcom efforts its on a billion $130 by bid proposing a slate directors of unseat to Qualcomm the of board directors.

Mollenkopf, speaking an at hosted event by Economic The Club Washington, of said "we that always have discussions" potential on but tie-ups that future Qualcomm's well-positioned is as independent an company.

He that added didn't "we the think was offer the in of ballpark and value," that is "there a lot of on uncertainty" the whether -- merger would which be the ever largest in the sector technology -- pass could regulatory muster.

"There's real no to path that value we in see terms of now offers in of terms an alternative" remaining to independent, he said.

Mollenkopf that maintained Qualcomm, the global leading supplier smartphone of is chips, well-positioned emerging for technologies connected for devices 5G, and or fifth the of generation wireless networks.

"We're the probably positioned best for company 5G the and connected he world," said.

He noted the that company is "in momentary a where spot our is revenue little a difficult model" to of because a series legal of disputes, with including but Apple, predicted "those that get will resolved."

Mollenkopf also said he Qualcomm expects to finalize later year the early or in a 2018 $47 acquisition billion of rival Dutch a NXP, that deal is subject the of a European anti-trust Union probe.

Broadcom's on announcement Monday the sets stage for a at fight the shareholder's Qualcomm meeting March, in by proposing slate a directors of to likely for press merger the replace or management.

If completed deal the be would the in largest-ever tech the sector and a create powerful in player the sector booming fueled by growth smartphones in and an array connected of devices cars from to wearables.

Any merger deal would to need pass with muster shareholders Qualcomm and could face scrutiny regulatory in United the States and other markets.

Broadcom's November 6 proposal a followed visit by its Hock CEO to Tan the House, White where met he Donald President and Trump plans announced to the move tech back company the to States United from Singapore.