Latest News

Microsoft’s $69 billion Activision bid faces EU antitrust probe

Microsoft’s $69 billion Activision bid faces EU antitrust probe By Reuters

Breaking News


Economy 10 minutes ago (Nov 09, 2022 17:51)

© Reuters. FILE PHOTO: Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

By Foo Yun Chee

BRUSSELS (Reuters) -Microsoft may have to offer concessions to address EU antitrust concerns about its $69 billion bid for “Call of Duty” maker Activision Blizzard (NASDAQ:ATVI) after regulators opened a full-scale investigation on Tuesday and warned about the impact of the deal.

The U.S. software company, which announced the deal in January, is betting Activision’s stable of games will help it compete better with leaders Tencent (HK:0700) and Sony, with the latter critical of the deal.

“The Commission’s preliminary investigation shows that the transaction may significantly reduce competition on the markets for the distribution of console and PC video games, including multigame subscription services and/or cloud game streaming services, and for PC operating systems,” the European Commission said in a statement.

“The preliminary investigation suggests that Microsoft (NASDAQ:MSFT) may have the ability, as well as a potential economic incentive, to engage in foreclosure strategies vis-à-vis Microsoft’s rival distributors of console video games,” it added.

Microsoft said it would work with the EU antitrust watchdog to address valid marketplace concerns.

“Sony, as the industry leader, says it is worried about Call of Duty, but we’ve said we are committed to making the same game available on the same day on both Xbox and PlayStation. We want people to have more access to games, not less,” a Microsoft spokesperson said.

The EU competition enforcer said it would decide by March 23, 2023 whether to clear or block the deal. Reuters reported on Oct. 31 that Microsoft would face an extensive EU probe after declining to offer remedies during the preliminary EU review of the deal.

Britain’s antitrust watchdog is also investigating the acquisition, with similar concerns to its EU peer.

Microsoft’s $69 billion Activision bid faces EU antitrust probe

Ukraine minister: GDP contraction of 39% expected in 2022 vs earlier forecast of 35%By Reuters – Nov 09, 2022

WASHINGTON (Reuters) – Ukrainian economy minister Yulia Syvrydenko said Russia’s destruction of civilian infrastructure would widen the expected contraction of gross domestic…

Polish central bank keeps rates on hold amid slowdown fearsBy Reuters – Nov 09, 2022

WARSAW (Reuters) -The National Bank of Poland left its main interest rate unchanged at 6.75% on Wednesday, extending a pause in monetary tightening as the largest economy in the…

Credit Suisse launches $2 billion, 11-year bond issue – sourceBy Reuters – Nov 09, 2022

LONDON (Reuters) – Credit Suisse (SIX:CSGN) has launched a $2 billion, 11-year bond issue, a source familiar with the matter told Reuters on Wednesday.
The new bond was set to…

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning

© 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:Latest News