Skip to main content

Broadcom CEO Seeks to Convince EU Antitrust Enforcers on $61 Billion VMware Deal

US chipmaker Broadcom's Chief Executive Hock Tan on Friday will try to convince EU antitrust enforcers that his proposed $61 billion (nearly Rs. 4,98,300 crore) bid for cloud computing firm VMware, which has triggered scrutiny on both sides of the Atlantic, is pro-competitive.

Tan, flanked by his executives and lawyers, arrived early Friday morning in Brussels for a closed hearing on one of the biggest tie-ups in the history of the technology sector. He declined to comment as he headed into the hearing.

Tan will present his arguments to senior European Commission officials, including its deputy director general for mergers Guillaume Loriot, and their counterparts from national competition agencies as well as lawyers from the EU executive.

VMware President Sumit Dhawan will appear remotely at the hearing. There are no other third parties at the hearing.

Broadcom's request for the hearing came after the Commission last month warned the deal may restrict competition in the market for certain hardware components which interoperate with VMware's software.

The company had hoped that regulators would consider the presence of Amazon, Microsoft and Google in the cloud computing market as proof of strong competition, other people familiar with the matter told Reuters last year.

Broadcom is expected to offer remedies in the coming days after the oral hearing. The EU deadline for a decision is June 21, which will be extended once concessions are submitted.

© Thomson Reuters 2023

Apple is opening its first stores in India, one in Mumbai and the other in Delhi. What does this mean for Apple customers in India? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.


from Gadgets 360 https://ift.tt/U0lm86V
Labels:

Comments

Post a Comment

Popular posts from this blog

US Power Firm Admits It May Have Sparked Texas' Largest Wildfire Ever

A US power company admitted Thursday that its equipment may have sparked the largest wildfire in Texas' history. Xcel -- the parent of Southwest Public Service Company, which provides electricity to part of the state -- said it was working with officials investigating the cause of the blaze that charred more than a million acres (over 400,000 hectares). "Based on currently available information, Xcel Energy acknowledges that its facilities appear to have been involved in an ignition of the Smokehouse Creek fire," the company said. Hundreds of homes are thought to have been destroyed in the fire, which is known to have killed at least two people and over 3,000 farm animals. Xcel, which is facing at least one lawsuit, denied its equipment was improperly maintained. "However, we encourage people who had property destroyed by, or livestock lost in, the Smokehouse Creek fire to submit a claim to Xcel Energy through our claims process," the statement said. The W
Post a Comment
Read more

It's Official, Kamala Harris Is Democratic Candidate For US Election

US Vice President Kamala Harris effectively secured the Democratic party's presidential nomination Friday, confirming her remarkable rise to party standard bearer in November's showdown against Republican Donald Trump. Kamala Harris was the sole candidate on the ballot for a five-day electronic vote of nearly 4,000 party convention delegates. She will be officially crowned at a Chicago convention later this month. "I am honored to be the presumptive Democratic nominee for President of the United States," Kamala Harris, 59, said on a phone-in to a party celebration after securing enough votes by the second day of the marathon vote. In the two weeks since President Joe Biden ended his reelection bid, Kamala Harris has gained full control of the party. No other Democrats stepped forward to challenge her elevation to the top of the ticket, making her confirmation as the first Black and South Asian woman ever to secure a major party's nomination a formality. The a
Post a Comment
Read more

All You Need To Know About Donald Trump's 1st Criminal Trial

Donald Trump goes on trial Monday for allegedly covering up hush money payments to hide affairs ahead of the 2016 presidential election which propelled him into the White House. He will become the first former US president to go on criminal trial when jury selection begins next week. Here are the key questions ahead of the landmark trial: What is Trump accused of? As Trump closed in on victory in the 2016 presidential election, adult film star Stormy Daniels was paid $130,000 to keep quiet about an alleged 2006 sexual tryst with Trump. The payments, made by Trump's lawyer at the time, Michael Cohen, were revealed by The Wall Street Journal in January 2018. Prosecutors have seized on the concealment of the payments as "legal fees" in the Trump Organization's accounts when Cohen was reimbursed as the heart of their case. Prosecutors say Trump "concealed the reason for these payments... which clearly were paid in order to influence voters," former prosec
Post a Comment
Read more