The Competition and Markets Authority said its concerns couldn't be solved by remedies such as the sale of blockbuster title Call of Duty or other solutions involving promises to permit rivals to offer the game on their platforms, according to a statement Wednesday. Microsoft said it will appeal the decision.
Pressure had been mounting on Microsoft as it lobbies at home and in Europe to convince watchdogs to clear the deal one of the 30 biggest acquisitions of all time. Crucially, the CMA's conclusions comes before decisions from the European Union and the US Federal Trade Commission, which is waiting on a hearing in the summer after formally suing to veto the transaction.
Activision shares tumbled more than 10% in pre-market trading at 7.20 am in New York. Microsoft, which separately reported betterthan-expected financial results on Tuesday, rose 7.4%. If the deal is eventually blocked, Microsoft could be on the hook for a break up: fee of as much as $3 billion.
Denne historien er fra April 27, 2023-utgaven av Financial Express Mumbai.
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Denne historien er fra April 27, 2023-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Murdoch ally helps Ambani build media empire in India
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Pandya, Dube & Rinku: Can they finish for India at T20 World Cup?
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Microsoft AI Copilot speed boost for coding
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Language models in consumer tech
This move is designed to ensure better user experience & privacy
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Vi FPO: Foreign players invest big; about ₹5,400 crore raised
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