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EU to look into USD 61B Broadcom-VMware deal over competition concerns

By ET Bureau - December 21, 2022 1 Mins Read

EU-to-look-into-USD-61B-Broadcom-VMware-deal-over-competition-concerns (1)

Earlier this year, Broadcom announced it was spending an eye-popping USD 61 billion for VMware. The EU declared this week that it was formally looking into the agreement.

Margrethe Vestager, the executive vice president of the EU in charge of competition policy, expressed worry that the deal would hurt competition in a formal statement. In response to the authorities’ concerns, Broadcom said in a statement that it is collaborating with officials from various governments and has already successfully concluded some investigations.

Also Read: Achieving Sustainable Business Growth with Automation-Led ESG

Not just the EU is considering this agreement. The U.K.’s Competition and Markets Authority (CMA) just last month revealed that it was starting its own investigation into the deal. According to CRN, the US FTC is also reportedly looking into the acquisition.

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