US chipmaker Broadcom will complete its acquisition of cloud software company VMware on Wednesday, the two companies announced after China approved the $69bn deal.
Beijing approved the merger with some “restrictive conditions”, according to a statement from its anti-monopoly regulator on Tuesday, in a sign China was working to ease trade tensions with the US amid a broader slowdown in its domestic economic growth.
“Broadcom and VMware today announced that they have received all required regulatory approvals and intend to close Broadcom’s acquisition of VMware on November 22, 2023,” they said in a joint statement shortly after Beijing’s announcement.
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