Last Update: May 05, 2023, 15:26 IST
Most people thought the deal was over
Hock Tan, chief executive of US chipmaker Broadcom, will try to convince EU antitrust enforcers on Friday that his proposed $61 billion bid for cloud computing firm VMware, which has drawn scrutiny on both sides of the Atlantic, is forward-looking. .
BRUSSELS: US chipmaker Broadcom Chief Executive Hock Tan will try to convince EU antitrust enforcers on Friday that his proposed $61 billion bid for cloud computing firm VMware, which has drawn scrutiny on both sides of the Atlantic, has supporters – It’s competitive.
Tan, accompanied by his executives and lawyers, arrived in Brussels on Friday morning for a closed hearing on one of the largest alliances in the history of the technology sector. He declined to comment as he went into the hearing.
Tan will present his arguments to senior European Commission officials, including Guillaume Loriot, deputy director-general for mergers, and his counterparts from national competition agencies, as well as lawyers for the EU executive.
VMware President Sumit Dhawan will appear remotely during the hearing. There is no other third party in the hearing.
Broadcom’s request for a hearing came after the commission warned last month that the deal could restrict competition in the market for certain hardware components that interoperate with VMware’s software.
The company expected regulators to consider the presence of Amazon, Microsoft and Google in the cloud computing market as evidence of strong competition, other people familiar with the matter told Reuters last year.
Broadcom is expected to present the remedies in the coming days following the oral hearing. The EU deadline for a decision is June 21, which will be extended after concessions are presented.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)