According to sources, Broadcom (AVGO.O) proposed interoperability remedies to meet EU antitrust concerns over its $61 billion deal for VMware (VMW.N).
Wednesday’s European Commission filing revealed Broadcom’s Tuesday proposal. The EU competition enforcer, which did not offer details, extended its deadline until July 17.
Broadcom CEO Hock Tan was in Brussels earlier this month to convince EU antitrust inspectors that the company’s bid for VMware, one of the biggest tech industry mergers, would boost competition.
Last year, additional sources told Reuters that the corporation anticipated regulators would see Amazon (AMZN.O), Microsoft (MSFT.O), and Google (GOOGL.O) in the cloud computing sector as evidence of strong competition.
Broadcom restated its goal of finalizing the VMware purchase in the 2023 fiscal year on Wednesday and said it was making progress with regulatory filings worldwide.
“While we maintain that this deal does not present any competition issues, we have made a proposal to address fully the concerns expressed by the European Commission,” Broadcom said.
“The combination of Broadcom and VMware is about enabling enterprises to accelerate innovation and expand choice by addressing their most complex technology challenges in this multi-cloud era, and we are confident that regulators will see this when they conclude their review,” it said.
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