Microsofts $69 billion Activision Blizzard takeover approved by UK, clearing way for deal to close
Summary
Britains top competition watchdog on Friday gave the green light to Microsofts proposed $69 billion takeover of gaming firm Activision Blizzard , removing the last major hurdle for the deal to close. The decision marks a major U-turn from the CMA, the staunchest critic of the takeover, which effectively blocked the deal earlier this year over concerns that the acquisition would hamper competition in the nascent cloud gaming market. At the time, the CMA said it stood by its initial decision to block the deal because the compromises presented to the EU would allow Microsoft to "set the terms and conditions for this market for the next ten years." In July, however, a judge blocked the FTCs attempt to do so, clearing the way for the deal to go ahead in the U.S. Just hours later, the CMA said it was "ready to consider any proposals from Microsoft to restructure the transaction" and allay the regulators concerns. "With the sale of Activisions cloud streaming rights to Ubisoft, weve made sure Microsoft cant have a stranglehold over this important and rapidly developing market," Sarah Cardell, CEO of the CMA said in a statement.
Funding
Classifications
AskAI Classifications
LabelsLinked Companies
