Broadcom says to stick with U.S. 5G investment after Qualcomm deal

[March 07, 2018]  (Reuters) - Singapore-based Broadcom Ltd <AVGO.O> pledged on Wednesday to make the United States the global leader in 5G technology and maintain Qualcomm's investments in the area after any merger between the two companies.

A sign to the campus offices of chip maker Broadcom Ltd, who announced on Monday an unsolicited bid to buy peer Qualcomm Inc for $103 billion, is shown in Irvine, California, U.S., November 6, 2017. REUTERS/Mike Blake

The U.S. government's Committee on Foreign Investment in the United States (CFIUS) has ordered a national security review of the proposed deal, saying a takeover can lead to lower R&D spending and weaken Qualcomm's competitive position against Chinese companies. (http://bit.ly/2FtCesY)

Broadcom also promised to create a $1.5 billion fund with a focus on innovation to train and educate the next generation of U.S. engineers to ensure the country's lead in future wireless technology.

(Reporting by Supantha Mukherjee in Bengaluru)

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