Despite earlier reports, it seems that China is yet to approve Qualcomm's proposed $44 billion acquisition of NXP Semiconductors, dismissing an earlier media report that said the opposite.
The acquisition has already got a nod from eight of the nine required global regulators, with China being the only hold-out, according to Reuters' sources.
Hong Kong-based South China Morning Post reported on Friday morning that China had given its go-ahead to the deal, citing people with knowledge of the matter, driving up shares of the U.S. firm in extended trade.
Insiders have linked the clearance of the Qualcomm-NXP deal with the progress of broader bilateral talks and the U.S. government lifting a supplier ban on telecoms equipment maker ZTE.
Washington and Beijing have struck a deal to help ZTE back into business. However, trade talks remain in the balance with U.S. President Donald Trump expected to unveil "pretty significant" tariffs on Chinese goods on Friday.
The U.S. chipmaker on Friday extended its cash tender offer to buy all shares of NXP by a week.
The offer is now scheduled to expire on June 22, the latest in a series of extensions since Qualcomm initially announced its bid for the Dutch semiconductor company in October 2016.