One sentence summary – Microsoft’s revised bid to acquire Activision Blizzard for £55bn is moving closer to approval by UK regulators, the Competition and Markets Authority (CMA), after a proposed remedy was suggested to address concerns about the impact on innovation and choice in the cloud gaming market.
At a glance
- Microsoft’s revised bid to acquire Activision Blizzard for £55bn is moving closer to approval by UK regulators.
- The Competition and Markets Authority (CMA) is overseeing the regulatory process.
- A new inquiry was launched by the CMA after a proposed remedy was suggested, involving selling Activision’s cloud streaming rights outside of the EU to Ubisoft Entertainment.
- The CMA has stated that this new offer “substantially addresses previous concerns” and criticized Microsoft for not proposing it earlier.
- Microsoft is awaiting the CMA’s consultation on their proposed remedies before a final decision is made.
The details
Microsoft’s revised bid to acquire Activision Blizzard for £55bn is moving closer to approval by UK regulators.
The Competition and Markets Authority (CMA) is the regulatory body overseeing this process.
Previously, the CMA had rejected the acquisition due to concerns about the impact on innovation and choice in the cloud gaming market.
A new inquiry was launched by the CMA after a proposed remedy was suggested.
This proposed remedy involved selling Activision’s cloud streaming rights outside of the EU to Ubisoft Entertainment.
The CMA has stated that this new offer “substantially addresses previous concerns”.
The regulatory body also criticized Microsoft for not proposing this remedy earlier.
Microsoft has offered remedies to ensure the enforceability of the sale terms.
The company is currently awaiting the CMA’s consultation on these proposals before a final decision is made.
Microsoft has expressed encouragement at the positive development in the CMA’s review process.
The tech giant aims to obtain approval to close the deal before the October 18 deadline.
Microsoft had criticized the CMA’s initial decision to block the deal.
The company suggested that the initial decision portrayed the UK as closed to business.
The CEO of the CMA responded to this criticism.
The CEO stated that it would have been better if Microsoft had proposed the restructure earlier in the investigation.
The European Union approved the original deal.
US competition regulators abandoned their attempt to block the takeover.
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A pixelated handshake between Microsoft and Activision Blizzard, symbolizing their nearing UK approval.
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| news.sky.com |
|---|
| – Microsoft’s revised effort to acquire Activision Blizzard for £55bn appears to be on track for clearance by UK regulators. – |
| The Competition and Markets Authority (CMA) had previously rejected the acquisition due to concerns about protecting innovation and choice in the cloud gaming market. |
| – |
| The CMA launched a new inquiry after a proposed remedy was suggested, which involved selling Activision’s cloud streaming rights outside of the EU to Ubisoft Entertainment. – |
| The CMA stated that the new offer “substantially addresses previous concerns” and should have been made earlier. |
| – Microsoft has offered remedies to ensure enforceability of the sale terms by the regulator. – |
| The CMA is currently consulting on the remedies before making a final decision. |
| – Microsoft expressed encouragement at the positive development in the CMA’s review process. – |
| The company aims to earn approval to close the deal before the October 18 deadline. – Microsoft criticized the CMA’s initial decision to block the deal, suggesting that it portrayed the UK as closed to business. – |
| The CMA CEO stated that it would have been better if Microsoft had proposed the restructure earlier in the investigation. – |
| The European Union approved the original deal, while US competition regulators abandoned their attempt to block the takeover. |
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