Nvidia suffered a setback on Wednesday as EU antitrust regulators opened a full-scale investigation into its $54 billion bid for British chip designer ARM on concerns the deal could lead to higher prices, reported Reuters.
Britain’s competition agency is also probing the deal for the country’s most important technology company, warning that it could damage competition and weaken rivals.
Related: Nvidia Offers EU Concessions Over $54bn ARM Deal
Reuters reported the European Commission viewed as insufficient concessions offered by the world’s biggest maker of graphics and artificial intelligence (AI) chips during its preliminary review.
The Commission said it would decide by March 15 whether to clear or block the deal.
“Whilst Arm and Nvidia do not directly compete, Arm’s IP is an important input in products competing with those of Nvidia, for example in data centres, automotive and in Internet of Things,” EU competition chief Margrethe Vestager said in a statement.
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