Qualcomm Inc to buy back about $16 billion of its common stock

U.S. chipmaker Qualcomm Inc said on Thursday it would buy back about $16 billion of its common stock as part of the previously announced $30 billion stock repurchase plan.

Qualcomm is seeking to compensate investors for the collapse of its $44 billion acquisition of NXP Semiconductors in July due to Chinese opposition, reports Reuters.

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