China's official statement after the meeting between Xi and Trump did not mention Xi's willingness to consider approving a $44 billion deal for Qualcomm to purchase NXP if the deal was put before him again.
In July, Qualcomm, which is based in California, confirmed that the company is terminating its proposed takeover of its rival NXP which is based in The Netherlands.
-China trade war was the planned takeover of the Dutch semiconductor-maker NXP by the U.S.'s Qualcomm - it was going to be the industry's biggest-ever merger, but Chinese regulators refused to clear it, and it sank in July when time ran out for regulatory clearance.
But last weekend, following trade talks between between US president Donald Trump and Chinese president Xi Jinping, the US White House announced that China is now open to clearing the Qualcomm-NXP deal should it be presented to them for approval again. The perception was that Broadcom is more concerned with acquisitions than R&D, and any let up could allow Huawei to leapfrog Qualcomm, and thereby the USA, in 5G.
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"Qualcomm considers the matter closed", a Qualcomm spokesman said.
The failure of the $44 billion merger deal was expensive for both sides: Qualcomm had to pay NXP a $2 billion breakup fee, and both Qualcomm and NXP launched huge share buybacks to mollify annoyed investors.
NXP did not immediately respond to an emailed request for comment on Monday.
A Qualcomm representative didn't immediately respond to a request for comment. It spent $22.6 billion on buying its own stock in the 12-months ended September, using up cash reserves that had been intended for the NXP acquisition. According to Bloomberg, China's Ministry of Commerce was concerned about Qualcomm's plans for patent licensing - but it is commonly supposed that the USA's threatened trade war with the country, in part down to a sales ban on ZTE products in the U.S., was a major factor. The massive merger between Qualcomm and NXP have been approving in eight other jurisdictions.