UK regulator blocks Microsoft's $69 billion acquisition of Activision Blizzard
The UK Competition and Markets Authority (CMA) on Wednesday blocked Microsoft's $69 billion acquisition of video game publisher Activision Blizzard.
The CMA said it opposed the deal because it raises competition concerns in the nascent cloud gaming market, as Microsoft could make Activision's games exclusive to its Xbox Game Pass cloud gaming platform.
Microsoft said it remains "fully committed to this acquisition and will appeal."
Shares of Activision Blizzard slumped 9% in US pre-market trading.
Earlier, some of Microsoft's competitors, including Sony, contested the deal, concerned it may give Microsoft a tight grip on the gaming market.
Microsoft also has yet to convince other regulators not to block the deal. The EU continues to probe the merger to assess whether it hurts competition, while the US Federal Trade Commission sued to block the deal on antitrust grounds.
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