Do they really have any internal ally inside the CCP? If it is true, it is a big problem for CCP during this tech war. These internal people will be branded as traitors in China.
If BC has no ally, why are they so confident and keep saying 10/30? Looks like nothing is written down and BC believe it is already approved.
Xi always said he will bring back Maoism after they become rich enough. Nationalism is rising. People have stopped buying iPhones.
Btw, Li Keqiang died litterally on Oct 27, 2023, or 3 days before Broadcom's target closing daye of Oct 30
Maybe the ally in CCP was Li Keqiang and his pro-market faction. Xi Jinping has been purging all the rival factions that are much more pro-market over the years but especially recently. Li Keqiang was a political heavyweight that belonged to one of Xi's rival factions and he mysteriously died of "heart attack" at age 68. Xi is not interested in promoting market economy. He wants to run a brutal dictatorship and return to Maoism. China of today is not China of the past 3 decades that started with Deng and ended with Hu Jintao when the pro market/reform factions led the country. China of today is basically oversized North Korea. I think Hock Tan being so old have miscalculated this new political reality thinking things would work like it did in the past.
wow if this is true then it is mind boggling
posting the same comment over and over multiple threads, won't make it any true than it is or not.
The goal was never to get China's approval. The goal was to EXIT china.
That's when the favor was called in... to the big guy.
https://www.youtube.com/watch?v=ikh3ncJZPTU&t=410s
And here we are.
Wagging the dog.
Hock say man who drop watch in toilet have sh---y time
SAMR gave verbal approval on around oct 12th. That's when vmw stock hit 180$.
News was floating China approval coming any time.
Then all on a sudden, they did a u-turn.
China already knew that chip restriction executive order is coming, so they held the written approval. Then when executive order got published, SAMR started saying they need approval from Ministry of finance. The deal died.
China knew all along what they were going to do (hold the deal until expiry) - they just gave false verbal confirmation of approval to Broadcom.
I don't think SAMR approed the deal. Reading from FT news, nothing is approved and nothing is written down
SAMR approved the deal. Then China made a u-turn at the last moment. They changed rule. For US companies SAMR needs to consult with Ministry of Foreign Affairs. Now it's blocked because Ministry of foreign affairs is not giving approval.
I don't know why BC or VMware didn't know/anticipate this.