FTC to speed up review of SK hynix Intel NAND purchase
Published: 21 Apr. 2021, 19:16
Korea's antitrust regulator said Wednesday it will speed up its review of SK hynix's deal to acquire U.S. chipmaker Intel's NAND business.
Last October, SK hynix, the country's No. 2 chipmaker, signed a deal to buy Intel's non-volatile memory unit for $9 billion, and it submitted an application for approval to the Korea Fair Trade Commission (KFTC) in January.
"We will proceed with the review as swiftly as possible in a way that does not hamper an industry realignment in the chipmaking sector," the KFTC said in a statement.
U.S. regulatory authorities approved SK hynix's deal last month, and six other countries, including Korea and the European Union, are reviewing it for approval.
SK hynix was the world's fourth-largest NAND flash producer with a market share of 11.6 percent in the fourth quarter of 2020, according to industry tracker TrendForce.
If the approval is granted, SK hynix is expected to become the world's second-largest NAND flash vendor behind Samsung Electronics.
Yonhap
Last October, SK hynix, the country's No. 2 chipmaker, signed a deal to buy Intel's non-volatile memory unit for $9 billion, and it submitted an application for approval to the Korea Fair Trade Commission (KFTC) in January.
"We will proceed with the review as swiftly as possible in a way that does not hamper an industry realignment in the chipmaking sector," the KFTC said in a statement.
U.S. regulatory authorities approved SK hynix's deal last month, and six other countries, including Korea and the European Union, are reviewing it for approval.
SK hynix was the world's fourth-largest NAND flash producer with a market share of 11.6 percent in the fourth quarter of 2020, according to industry tracker TrendForce.
If the approval is granted, SK hynix is expected to become the world's second-largest NAND flash vendor behind Samsung Electronics.
Yonhap
with the Korea JoongAng Daily
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