The head of Microsoft attacked the UK after being blocked from buying Activision and said the EU is a better place to start a business.
The repercussions of CMA’s disapproval of Microsoft’s acquisition of Activision-Blizzard continue. Brad Smith, Vice President of Microsoft since 2021 BBCHe told . that the move was “bad for the UK” and was the “darkest day” Microsoft has worked in the country in four decades.
Microsoft has announced that it will appeal the decision.
Although the recent developments seem to turn the pointer towards Microsoft, the decision from the CMA was the opposite. He explained that the most important factor in making this decision for the CMA is not to “merge companies with commercial interests”, but to do what is best for the people. Both Microsoft and Activision said they would appeal the decision.
What does rejection of the deal mean?
This move by the UK in line with the CMA’s decision means that the multi-billion dollar deal cannot continue globally.
While US and EU regulators have yet to decide whether to ratify the deal, UK regulator, the Competition and Markets Authority (CMA), said: “Activision is intertwined through different markets – it is inseparable for the UK. So this decision is preventing the deal from happening globally. “
Had it been approved, the $68.7 billion (£55 billion) deal would have been the gaming industry’s biggest takeover ever, enabling Microsoft to take on hugely popular titles like Call of Duty, Candy Crush and World of Warcraft.