The European Commission on Wednesday said U.S. chipmaker Broadcom's proposed $61 billion takeover of cloud computing company VMware could restrict competition in the market for certain hardware components.
The Commission said it had informed Broadcom of its objection that the deal could restrict competition in the global markets for the supply of so-called fibre channel host bus adapters and storage adapters, by limiting access for competitors' hardware to VMware's software.
Broadcom said it remained confident that regulators will eventually conclude that the takeover does not present any competition issues, and said it expected to close the deal "in fiscal year 2023"., over concerns it would give Broadcom the opportunity to restrict competition in the market for certain hardware components which interoperate with VMware's software.Broadcom was set to receive an EU antitrust warning about the possible anti-competitive effects of its billion bid.
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