Qualcomm refuses to spin off chip business
Qualcomm Inc.’s Executive Chairman Paul Jacobs said on Tuesday they have no plans to spin off its chip business despite what critics and shareholders may say.
Hedge fund Jana Partners said in April to improve shareholder value Qualcomm should spin off the chip business from its patent-licensing business. Also saying the chip business is “essentially worthless”.
Jacobs told Reuters:
“We’ve had that discussion for a long time, many years the board has looked at it but we still think the synergies of having the businesses together outweighs the dissynergies,”
Soure: Reuters
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