Microsoft's $69 billion Activision Blizzard takeover approved by UK, clearing way for deal to close
Publishing timestamp: 2023-10-13 08:49:13
Summary
The U.K.'s Competition and Markets Authority has approved Microsoft's $69 billion takeover of gaming firm Activision Blizzard, removing the last major hurdle for the deal to close. The regulator cleared the deal but without cloud gaming rights, ensuring competition in the nascent market. The decision marks a major U-turn from the CMA, which previously blocked the deal over concerns about competition in the cloud gaming market. Microsoft made concessions, including divesting cloud rights to Ubisoft Entertainment. The deal has faced regulatory challenges in the U.S., Europe, and the U.K., but is now expected to close.
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Keywords: microsoft corp, game consoles, activision blizzard inc, video games, monopoly and antitrust, mergers and acquisitions, gaming software, technology, nvidia corp, united states, business news, united kingdom, nintendo co ltd, internet, sony group corp, breaking news: technology, netflix inc,