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Apple is in advanced talks to buy Intel’s smart phone-modem-chip-business: WSJ

FILE PHOTO: The logo of Apple is seen in a shop in zurich, Zurich, Switzerland, on January 3, 2019. REUTERS/Arnd Wiegmann

(Reuters) – Apple Inc’s (AAPL.(O) is in advanced talks to buy chipmaker Intel Corp’s (INTC.(O) – smartphone-modem chip business, the Wall Street Journal reported on Monday, citing people familiar with the matter.

Assuming the calls do not fail, the deal is valued at $1 billion or more, could be accomplished in the next week or so, the people told the WSJ. (on.wsj.com/2Yi5E6H)

While Apple declined to comment, Intel does not immediately respond to a Reuters request for comment.

Shares of Intel rose nearly 2%, to $52.23, while Apple’s were marginal, at $207.66) in the extended trade.

Reporting Vibhuti Sharma in Bengaluru; Editing by Sriraj Kalluvila

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