A shocking report that Microsoft was acquiring Activision Blizzard for $69 billion stunned the gaming community in January. The UK antitrust agency has declared that it is looking into the deal to determine whether it would lessen competition in the UK.
The UK Competition and Markets Authority (CMA) will look into whether the two firms’ merger will result in a “substantial lessening of competition within any market or markets in the United Kingdom for goods or services.”
The CMA is inviting all concerned parties to submit public comments on the topic by July 20. They also established a deadline of September 1 for deciding whether to send the proposed merger to a “phase 2” investigation.
Liza Tanzi, Microsoft’s Corporate Vice President and General Counsel, said:
“We’re committed to answering questions from regulators and ultimately believe a thorough review will help the deal close with broad confidence, and that it will be positive for competition,”
She also added that:
“We remain confident the deal will close in fiscal year 2023 as initially anticipated.”
