Ministers are poised to pull the trigger on a full-blown investigation into the sale of ARM, Britain’s biggest technology company, in a move that threatens to scupper the controversial $40 billion (£30 billion) deal.
Nadine Dorries, digital and culture secretary, will this week order a “phase 2” probe into US chip giant Nvidia’s acquisition of the Cambridge-based semiconductor design company from Japan’s SoftBank. She will instruct the competition watchdog to carry out an in-depth inquiry into antitrust concerns, as well as scrutinise national security fears raised by the takeover, which was agreed in September 2020.
The Competition & Markets Authority said it had “serious competition concerns” after delivering its findings from the “phase 1” probe in July to Dorries’ predecessor, Oliver Dowden. Dorries must accept
