SK hynix gets approval from China for Intel NAND chip business takeover

SK하이닉스, 인텔 낸드 인수 마지막 관문 중국 심사도 통과 SK hynix got the green light from China to proceed with its acquisition of Intel's NAND flash memory business. Through the takeover, South Korea's second biggest chipmaker aims to boost its capacity to build these NAND chips, used in smartphones and data center servers. Bae Eun-ji has the latest. SK hynix has won approval from Chinese authorities for its takeover of Intel's NAND memory chip business,... clearing the way for its planned 2025 merger. The company had earlier secured permission from U.S. and European authorities,... so getting the greenlight from China was the final hurdle and has now secured regulatory approvals from all eight countries that it needed to. There was speculation that it would be difficult for the South Korean chip maker to win China’s approval, or that it could be delayed significantly... amid heightened tensions between the U.S. and China. China's market regulator said Wednesday that it had approved the deal,... but with conditions. This included conditions that SK hynix should not supply PCI express,... an interface standard for connecting high-speed components... to China's domestic market at unreasonable prices. The Chinese regulator also said SK hynix should not force customers in China's market to exclusively purchase products from SK hynix or companies controlled by it,... and that it should not enter into deals with its main competitors in China that exclude or restrict competition. SK hynix is the world's second largest NAND memory chip maker... after Samsung Electronics,... taking 13-point-5 percent of the global market share. By taking over Intel's business,... which currently has nearly 6-percent of the global market share, the South Korean company will be able to own around 19-percent. Last October, the U.S. chip giant agreed to sell its NAND memory chip unit to SK hynix for 9 billion dollars,... planning to focus on its Optane memory business instead, which it deems to be more lucrative. SK hynix will pay 7 billion dollars in the deal's first phase,... and it will pay the rest by March 2025. It's also set to take over Intel's facility plant in Dalian, China. Bae Eun-ji, Arirang News. #SK_hynix #China #approval 📣 Arirang News(Facebook) :   / arirangtvnews   📣 Arirang News(Twitter) :   / arirangtvnews   📣 News Center(YouTube) :    / newscenter_arirangtv   2021-12-22, 22:00 (KST)