Qualcomm (QCOM) may have reason to smile. 

China regulators reportedly have confirmed Qualcomm's $43 billion acquisition of NXP Semiconductors (NXPI) , according to South China Morning Post on Thursday. 

TheStreet's Jim Cramer is fresh off sitting down for a talk with Qualcomm CEO Steven Mollenkopf at our sister publication, The Deal's, annual corporate governance conference.

Said Cramer after the talk on Real Money:

"First, we have to consider owning the stock of Qualcomm. After speaking with CEO Steve Mollenkopf for the second time in 24 hours -- but after Commerce Secretary Ross said there will be a deal between the U.S. and ZTE -- I think that Qualcomm will be able to buy NXP Semi. Remember the Chinese are holding up that deal ostensibly, it seems, because we have withheld parts to the Chinese cellphone maker and until that changes, the regulators won't bless a Qualcomm-NXPI tie-up."

Qualcomm shares popped 1.8% in pre-market trading Friday. 

This story is developing.

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