Broadcom Convinces EU Antitrust Regulators on $61 Billion VMware Deal

Broadcom is trying to convince EU antitrust regulators over the $61 billion VMware deal.

On Friday, US chipmaker Broadcom would convince EU antitrust regulators about the $61 billion bid for cloud computing firm VMware. It has triggered regulatory scrutiny on both sides of the Atlantic, which is pro-competitive.

At an end hearing, the company will mention its statements to Senior European Commission regulators and their counterparts from national competition agencies, along with lawyers from the EU executive.

Broadcom’s hearing request was accepted after the Commission warned about the deal in April, which could be restricted for certain hardware elements that interoperate with VMware’s software.

The company expected that regulators would deliberate the presence of Amazon, Microsoft and Google in the cloud computing market, showing evidence of robust competition, according to the Reuters report.

Broadcom is anticipated to offer solutions in the upcoming days post-oral hearing. The EU deadline for a decision is June 21, which will be extended after the submission of concessions.

Get Daily Prediction & Stocks Tips On Your Mobile