Microsoft’s latest stock deal with Qualcomm is expected to raise about $12 billion to help the firm compete with rival Qualcomm in the smartphone market.
It’s the biggest tech deal in history and has been criticised by Qualcomm, which says it’s too big for the US market.
“It’s a significant amount of money,” Qualcomm’s executive vice president, Tom Gores, told Bloomberg.
“We will not tolerate this level of concentration in the marketplace.”
The company is expected soon to announce an IPO of Qualcomm.
Qualcomm is also the world’s biggest chipmaker and a key investor in Facebook.