The London tribunal has officially paused Microsoft’s appeal against Britain’s block on its $75 billion takeover of Activision Blizzard, granting the parties more time to resolve the dispute. Microsoft, Activision, and Britain’s Competition and Markets Authority (CMA) have all requested a two-month stay of the case while the CMA considers a modified deal proposed by Microsoft. The Competition Appeal Tribunal (CAT) has ruled that the full hearing of Microsoft’s appeal, originally scheduled for July 28, should be adjourned.
In April, the CMA became the first major regulator to block the acquisition of Activision Blizzard, citing concerns about competition in cloud gaming. The Federal Trade Commission (FTC) has also opposed the merger but was recently defeated in its attempt to temporarily halt the deal. In Britain, the CMA’s final report typically represents the final decision, and companies can only seek recourse through the CAT.
However, following a US federal court ruling in favor of the merger last week, the CMA announced that it would reconsider a modified proposal. It stated that a restructured deal could address its concerns, subject to a new investigation. All parties involved have requested a two-month pause of the case at the CAT to allow for swift and constructive engagement regarding Microsoft’s proposals.
David Bailey, a lawyer representing the CMA, emphasized that the FTC’s initial defeat had no influence on the CMA’s decision to consider a new deal. He stated that based on the discussions held so far, both Microsoft and the CMA are confident that a restructured transaction could address the identified concerns. Microsoft’s lawyer, Daniel Beard, stressed the urgency of closing the deal and highlighted the UK as the only obstacle.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
