Senator asks regulators to review Broadcom's bid for Qualcomm
Sen. John Cornyn (R-TX) on Monday sent a letter to Treasury Sec. Mnuchin, asking that the Committee for Foreign Investment in the U.S. (CFIUS) review Broadcom's proposed takeover of Qualcomm. His big concern is that the deal could result in a controversial Chinese company with effective control over U.S. telecom infrastructure, via future development of 5G technology.
Why it matters: This is a highly unusual request, and not only because the two chipmakers haven't yet agreed to merge.