: Broadcom to halt certain exclusivity agreements amid antitrust inquiry

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Broadcom Inc. AVGO has agreed to suspend certain exclusivity agreements for TV set-top boxes and modems to settle European antitrust concerns, the European Commission said Wednesday. Under an agreement, Broadcom will suspend certain exclusivity agreements for European markets and at a global level for seven years pertaining to systems-on-a-chip products for TV boxes and modems to satisfy EC concerns raised last year. “The Commission considers that the commitments offered by Broadcom address its concerns and has made them legally binding,” the EC said in a statement. Broadcom shares are up nearly 17% for the year, compared with a 26% gains on both the PHLX Semiconductor Index SOX and the tech-heavy Nasdaq Composite Index COMP.
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