UK blocks Microsoft's acquisition of Activision Blizzard

British regulators have blocked Microsoft's $69 billion deal to buy video game maker Activision Blizzard over worries that the move would stifle competition in the cloud gaming market.Wednesday that"the only effective remedy" to the significant loss of competition that the deal would result in"is to prohibit the Merger."

and Europe over concerns the deal would give Microsoft exclusive control of popular game franchises like Call of Duty."We remain fully committed to this acquisition and will appeal," President Brad Smith said in a statement. Activision also fired back, saying it would"work aggressively with Microsoft to reverse this on appeal."

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Britain blocks Microsoft's $69 billion acquisition of Activision BlizzardBritain's top competition regulator on Wednesday moved to block Microsoft's acquisition of video game publisher Activision Blizzard.
Source: CNBC - 🏆 12. / 72 Read more »

UK To Block Microsoft's Activision Blizzard AcquisitionMicrosoft runs into its first major block against the ActivisionBlizzard merger as the UK's CMA will be blocked by week's end. Activision BlizzardEntertainment
Source: bleedingcool - 🏆 20. / 69 Read more »

Microsoft’s Activision Blizzard acquisition blocked by UK regulatorsMicrosoft says it will appeal the decision
Source: verge - 🏆 94. / 67 Read more »