UK issues order restricting Microsoft and Activision from buying interest in each other
The competition regulator of Britain has issued an interim order restricting Microsoft and Activision from acquiring an interest in each other without its consent. This comes weeks after it blocked their $69 billion merger.
As per media report, according to the order, the companies need "prior written consent" from the UK regulator before making acquisitions. The report also said that the order applies to the businesses as well as their subsidiaries.
The UK regulator, however, said it was concerned the deal would offer reduced innovation and less choice for gamers in the cloud gaming business. Microsoft and Activision criticised the decision and said they would appeal. The companies also issued warnings saying they will have to rethink investments in the market.
It is to be noted that the deal has to be approved by regulatory bodies in the UK, the US and the European Union (EU) to go through.
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