Nvidia seeks EU approval for Arm deal, EU decision due Oct. 13 By Reuters

0
27
© Reuters. FILE PHOTO: The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. REUTERS/Tyrone Siu/File Photo

BRUSSELS (Reuters) – Nvidia (NASDAQ:) on Wednesday filed for EU antitrust approval of its $54 billion takeover of British chip designer Arm, according to a submission on the European Commission website, kicking off a process likely to take several months.

The world’s biggest maker of graphics and AI chips announced the deal last year, triggering concerns in the semiconductor industry whether Arm can remain a neutral player licensing key intellectual property to customers and rivals.

Worried customers include Qualcomm (NASDAQ:) Inc, Samsung Electronics (OTC:) Co Ltd and Apple Inc (NASDAQ:).

The European Commission can clear the $54 billion deal with or without concessions after its preliminary review or it can follow up with a four-month long investigation if it has serious concerns.

Britain’s competition watchdog has warned that the deal could damage competition and weaken rivals, and required a further lengthy investigation.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.