Chinese regulators conditionally approve Broadcom-VMWare merger
By Iain Gilbert
Date: Tuesday 21 Nov 2023
(Sharecast News) - China has provided a list of conditions that must be met in order for it to give its tick of approval for Broadcom's $69.0bn merger with software maker VMware.
The conditions relate to how the combined companies intend to sell their products in the Chinese market, including making sure VMWare's server software will be interoperable with local hardware.
The State Administration for Market Regulation stated it would approve the deal if its conditions were met, assuming it has the right to supervise and inspect the deal.
As of 1415 GMT, Broadcom shares were down 2.54% at $970.0 each.
Reporting by Iain Gilbert at Sharecast.com
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