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A senior minister in the British Government has decided to intervene in the huge chip deal on national security grounds.
The decision by the Secretary of State for Digital, Culture, Media and Sport is based on "advice received from officials across the investment security community," according to a statement. The nation's Competition and Markets Authority will now prepare a report on the deal by July 30.
The $40 billion deal is particularly sensitive in the U.K., with Arm representing one of the U.K.'s few breakout tech successes. Arm cofounder Hermann Hauser has called the deal a disaster.
Jamie Condliffe ( @jme_c) is the news editor at Protocol, based in London. Prior to joining Protocol in 2019, he worked on the business desk at The New York Times, where he edited the DealBook newsletter and wrote Bits, the weekly tech newsletter. He has previously worked at MIT Technology Review, Gizmodo, and New Scientist, and has held lectureships at the University of Oxford and Imperial College London. He also holds a doctorate in engineering from the University of Oxford.