UK to examine Broadcom's $61 billion VMware deal in depth
Reuters
Published Mar 29, 2023 06:34AM ET
Updated Mar 29, 2023 01:21PM ET
(Reuters) - Britain said it would investigate Broadcom (NASDAQ:AVGO)'s acquisition of VMware (NYSE:VMW) in depth after the U.S. chipmaker offered no immediate undertakings in response to its concerns about the impact of the $61 billion deal on the server market.
Britain's Competition and Markets Authority said earlier this month that Broadcom's acquisition of the cloud computing and virtualisation company could drive up the cost of computer parts and software for servers.
It said on Wednesday that Broadcom had declined to offer any undertakings in the five-day period after it published its concerns, and it would therefore proceed to an in-depth inquiry, which can take up to six months.
Broadcom said earlier this month that it was working constructively with the regulator and it would demonstrate that the deal would enhance competition and would benefit businesses and consumers.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.