Shares of video game maker Activision Blizzard plunged after the UK’s antitrust regulator blocked a merger with Microsoft. This transaction was supposed to be the largest in the history of the gaming industry – its amount was estimated at $69 billion.
The UK Competition and Markets Authority has blocked a deal to buy Microsoft’s US game maker Activision Blizzard.
The department believed that the merger would strengthen Microsoft’s dominant position in the market and give it control over the manufacturer’s main products: World of Warcraft, Call of Duty and Overwatch.
The regulator also noted that in the event of a failed deal, gamers will in future be able to forego buying consoles to play their favorite games, as Activision is preparing to provide access to them via cloud platforms.
Activision Blizzard’s shares on the Nasdaq after the regulator’s announcement plunged 11.1%. Microsoft stocks, by contrast, rose and rose in price by 7.8%.
Microsoft announced that it will buy game developer Activision Blizzard in January 2022. The deal was called the largest in the history of the gaming industry: its amount was estimated at $69 billion.
Author:
Kirill Bilyk
Source: RB
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