9/1/2022, 1:20 PM (Source: TeleTrader)
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Microsoft-Activision deal could hurt competition - UK

United Kingdom's Competition and Markets Authority (CMA) announced on Thursday that its "phase 1 investigation" of the merger between Microsoft Corporation and Activision Blizzard Inc. showed that the deal could lead to a "substantial lessening of competition" in Britain.

"Gaming consoles, multi-game subscription services, and cloud gaming services" are markets that could be affected by the potential acquisition, the CMA specified, adding that the deal meets the criteria to face an "in-depth phase 2 investigation."

The second stage of the investigation can be called off if the companies bring forward solutions that will address competition concerns by September 8, the British market watchdog explained.

Baha Breaking News (BBN) / MS