1/3, 10:20 PM (Source: TeleTrader)
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FTC: No substantive settlement talks with Microsoft

A lawyer for the United States Federal Trade Commission (FTC) said during a pre-trial hearing on Tuesday that the agency authorized its staff to start settlement talks with Microsoft over its planned $69 billion acquisition of Activision Blizzard, but stressed that "there are no substantive discussions at this time."

The lawyer also added that the FTC has no plans "at this time" to take the case seeking to block Microsoft from buying the game maker to a federal court.

In December, the agency filed a lawsuit seeking to block the deal, arguing the transaction would "enable Microsoft to suppress competitors to its Xbox gaming consoles and its rapidly growing subscription content and cloud-gaming business."

Baha Breaking News (BBN) / NP