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Activision Blizzard Given Permission to Intervene in Microsoft’s Legal Battle with Britain’s Anti-Trust Regulator
Activision Blizzard has been permitted to intervene in Microsoft’s legal battle with Britain’s anti-trust regulator regarding its decision to block the $69 billion acquisition of Activision Blizzard. Microsoft has appealed against the Competition and Markets Authority’s (CMA) veto of the deal, claiming that it could negatively impact competition in the nascent cloud gaming market. Activision Blizzard’s intervention in Microsoft’s appeal means that the company will be able to present its case to the Competition Appeal Tribunal when the appeal takes place next month.
The Legal Battle Over the $69 Billion Takeover
Microsoft is currently fighting a legal battle with Britain’s anti-trust regulator over its decision to block the $69 billion takeover of Activision Blizzard. Microsoft is appealing the CMA’s veto of the deal, which has been approved by regulators around the world, including the EU’s competition authority. Activision Blizzard has been granted permission to intervene in the case and will make its case to the Competition Appeal Tribunal.
Microsoft’s Response to the CMA’s Decision
Microsoft has expressed its anger at the CMA’s decision to veto the deal and has accused the regulator of being a global outlier. Microsoft’s president, Brad Smith, has met with Britain’s finance minister to discuss the regulator’s concerns about the acquisition. Smith has stated that Microsoft wants to address these concerns and find solutions that will allow the deal to go ahead.
The Importance of the Acquisition
The acquisition of Activision Blizzard by Microsoft is the biggest-ever deal in the gaming industry. The deal is of great importance to both companies and is seen as a significant step in the development of the cloud gaming market. The CMA’s decision to veto the deal has caused concern among industry insiders and has raised questions about whether the UK is open to tech firms.
Conclusion
Microsoft’s legal battle with Britain’s anti-trust regulator over its $69 billion takeover of Activision Blizzard has been given a new twist with the news that Activision Blizzard has been allowed to intervene in the case. The decision means that the company will have the opportunity to present its case to the Competition Appeal Tribunal when the appeal takes place next month. The legal battle is of significant importance to both Microsoft and Activision Blizzard and is being closely watched by industry insiders.
FAQs
Why did the CMA veto the deal?
The CMA vetoed the deal because it believed that it could negatively impact competition in the nascent cloud gaming market. The regulator’s concerns were that the deal would give Microsoft too much control over the market, which could lead to higher prices for consumers and less innovation in the sector.
What is the Competition Appeal Tribunal?
The Competition Appeal Tribunal is an independent body that hears appeals against decisions made by regulators such as the CMA. The tribunal has the power to overturn the CMA’s decision and allow the Microsoft-Activision Blizzard deal to go ahead.
Why is the Microsoft-Activision Blizzard deal so important?
The Microsoft-Activision Blizzard deal is the biggest-ever deal in the gaming industry and is seen as a significant step in the development of the cloud gaming market. The deal is of great importance to both companies and could have a significant impact on the future of the gaming industry.
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