The UK is considering blocking US chip company Nvidia buying tech darling Arm for £29bn due to potential risks to national security, according to reports.
According to Bloomberg, a Government-ordered report into the sale, delivered in late July from the CMA, contains worrying implications for national security and now Number 10 is currently inclined to reject the takeover.
It increases tthe chances the Government will demand a deeper review of the sale of Arm to the foreign company, this time on national security grounds.
It will follow UK culture secretary Oliver Dowden asking the CMA in April to prepare a report on whether the deal could be deemed anti-competitive, along with a summary of any national security concerns raised by third parties.
“We continue to work through the regulatory process with the U.K. government,” Nvidia said in response to Bloomberg.
“We look forward to their questions and expect to resolve any issues they may have.”