Microsoft's Activision Takeover Bid Dealt Setback In UK

Microsoft's planned $69-billion takeover of video game giant Activision Blizzard could significantly harm competition and consumer choice, UK regulators concluded in provisional findings Wednesday

London, (UrduPoint / Pakistan Point News - 8th Feb, 2023 ) :Microsoft's planned $69-billion takeover of video game giant Activision Blizzard could significantly harm competition and consumer choice, UK regulators concluded in provisional findings Wednesday.

Xbox-owner microsoft launched early last year its bid to create the world's third biggest gaming company by revenue by purchasing the owner of hit games "Candy Crush" and "Call Of Duty", but the deal has been plagued by antitrust concerns.

"The Competition and Markets Authority has provisionally found that the anticipated acquisition... may be expected to result in a substantial lessening of competition in gaming consoles and cloud gaming services in the UK," the UK watchdog said in statement.

The CMA, which launched its in-depth probe in September, added that Microsoft's takeover "could result in higher prices, fewer choices, or less innovation for UK gamers".