Broadcom looks for EU approval of VMware takeover
Broadcom has begun the process of getting European Union approval for its proposed $61 billion takeover of cloud and virtualization biz VMware, which the company hopes to close within its current fiscal year.
The takeover was officially notified to the European Commission for antitrust scrutiny on November 15, according to an entry in the executive body'swebsite. It states that a provisional deadline for a decision on the merger is December 20, but has yet to publish an official release with details. According to reports, Broadcom is angling for the merger to be approved at this stage, rather than the European Commission deciding it needs more in-depth analysis, which could add months to the approvals process.
"We are confident that this deal does not present any competition issues and look forward to working with the European Commission throughout this process," the company said in a statement., Broadcom hopes to convince EU regulators to green light its takeover by arguing there is already plenty of competition in the relevant market sectors from the likes of public cloud operators, including Microsoft, AWS, and Google, and that its merger will actually increase buyer choice.
However, it is understood that the US Federal Trade Commission is also scrutinizing the proposed takeover, which could also derail the sale.
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