The UK's Competition and Markets Authority regulator decided to block Microsoft's proposed $68.7 billion purchase of Activision Blizzard in late April. At the time, the CMA expressed worries that the acquisition would hurt competition in the cloud gaming landscape and that consumers would suffer. Nearly six months later, the CMA has changed tune.
Following the late April ruling, the CMA said in July that it would consider a different acquisition deal from Microsoft. The change of tune came just as the FTC's action against Microsoft was stopped in the US. Microsoft was already willing to make various concessions, including divesting the cloud rights of Activision games. These would go to Ubisoft instead. Microsoft will not get cloud rights for any existing Activision PC and console games.