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U.S. vs China seen in Qualcomm-Broadcom fight

American flag.
Photo: Thomas Peter-Pool / Getty Images

Broadcom's effort to acquire Qualcomm had already turned into a proxy battle for control of the company's board of directors. Increasingly, though, the hostile takeover bid is being seen as a proxy for a larger battle — U.S. vs China.

The latest: At Qualcomm's request, the U.S. government is looking into whether a deal would raise national security concerns. The investigating entity, known as CFIUS, ordered Qualcomm to postpone its shareholder vote, saying it wanted more time to look into a variety of concerns, including whether the deal might weaken Qualcomm's position as a leader in wireless standards-setting.