VMWare falls on report Beijing weighing holding up Broadcom deal

VMware

19/10/2023 10:32

** Shares of VMWare  VMW.N  slide 7.7% to $153.5 premarket
after a report that Beijing is weighing holding up U.S.
chipmaker Broadcom's  AVGO.O  $69 bln purchase of the cloud
computing company
    ** China's State Administration of Market Regulation has not
signed off on the deal and is likely to delay approving it after
the Biden administration unveiled tougher chip controls on
Tuesday, the FT reported
    ** Stock touched a two-month low on Tuesday on speculation
the deal could be delayed
    ** VMWare and Broadcom did not immediately respond to
Reuters requests for comment. China's SAMR could not immediately
be reached for comment
    ** Broadcom shares dip 0.1% to $886.3 premarket

 (Reporting by Sruthi Shankar in Bengaluru)
 ((sruthi.shankar@thomsonreuters.com;))