Beijing — China is ready to approve Qualcomm’s $43bn takeover of NXP Semiconductors if it gets assurances that the US will lift a seven-year ban on homegrown telecoms giant ZTE, people familiar with the matter said on Monday. The antitrust regulator has cleared all factual investigations, is satisfied with the remedies Qualcomm’s offering and only procedural issues remain, said the people, who asked not to be identified discussing internal matters. Senior officials have given a green-light for approval of a deal that’s been pending for 18 months, with an announcement possible any time, they said. China’s review of Qualcomm’s largest-ever acquisition has languished amid an escalating trade fight between the world’s two largest economies, fuelling concern that the NXP deal might become a bargaining chip. At the same time, Beijing wants ZTE freed up to buy the US chips and components it needs to make networking gear and smartphones. That has prompted Beijing to link its review with the...

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