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Trading statements

CSR in line with management expectations

20 May 2015 08:33

CSR's trading for the first quarter ended 27 March was in line with management expectations and the outlook for the second quarter is also in line with forecasts, shareholders at the annual general meeting today will be told.

Completion of the acquisition of CSR by Qualcomm Global Trading Pte Ltd, an indirect wholly owned subsidiary of Qualcomm Incorporated, remains subject to clearance by the competition authorities in China (the Ministry of Commerce of the People's Republic of China), and satisfaction (or, where applicable, waiver) of the other conditions set out in the scheme document.

Approval has previously been granted by the US Federal Trade Commission, the German Federal Cartel Office, the Korea Fair Trade Commission and the Japan Fair Trade Commission.

The Taiwan Fair Trade Commission determined not to exercise its jurisdiction over the transaction.

The acquisition continues to be expected to close by late summer 2015. At 8:33am: (LON:CSR) CSR PLC share price was +0.25p at 886.25p

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