UK watchdog approves Microsoft’s £55billion takeover of Activision Blizzard
THE UK’s competition watchdog has finally given the green light to Microsoft’s £55billion takeover of gaming giant Activision Blizzard.
The Competition and Markets Authority gave its approval after the firms agreed to sell “cloud gaming” rights to French rival Ubisoft.
Microsoft owns the Xbox games console while Activision makes games including Call Of Duty and Candy Crush.
The CMA had originally blocked the mega-merger, provoking a furious response from Microsoft and Activision Blizzard, who said the UK was “closed for business”.
It came at a delicate moment for the Government, which is trying to woo more technology investment to rival Silicon Valley.
CMA boss Sarah Cardell said the UK watchdog didn’t want Microsoft having a “stranglehold” over cloud gaming, where games are streamed rather than downloaded, despite European regulators approving the deal.
She also rebuked Microsoft for admitting it had previously ignored the CMA’s advice, adding: “The tactics employed by Microsoft are no way to engage with the CMA.”
Microsoft president Brad Smith said: “We’re grateful for the CMA’s thorough review and decision.”
Activision said it looked forward to becoming part of the Xbox Team.
Burger boost
BURGER King will open 60 new UK sites over the next two years.
Sales rose 39 per cent to £294.5million last year after it added 32 new sites in the UK and bought 74 from a franchise partner.
It said online deliveries and click and collect is now an “important and significant sales channel”.
Boom in bust
THE number of company collapses this year is set to be the highest since the 2007–2008 financial crisis.
Figures show 1,967 firms went bust in September — 16.5 per cent higher than a year ago, says The Insolvency Service.
The number is 30 per cent higher than pre-pandemic levels.