Microsoft nasdaq Msft Challenges Uks Block on B Activision Blizzard Acquisition

Microsoft (NASDAQ: MSFT) Challenges UK’s Block on $69B Activision Blizzard Acquisition

Microsoft Corporation (NASDAQ: MSFT) has officially filed an appeal against Britain’s decision to block its $69 billion acquisition of Activision Blizzard (NASDAQ: ATVI), the developer of “Call of Duty.” A Microsoft spokesperson confirmed the appeal, highlighting the company’s commitment to the takeover.

The UK antitrust regulator, the Competition and Markets Authority (CMA), rejected the deal in April. Their concern was that Microsoft’s acquisition could undermine competition within the emerging cloud gaming market.

On Wednesday, Microsoft submitted an appeal to the Competition Appeal Tribunal (CAT) regarding the CMA decision. Microsoft’s communications director, Robin Koch, confirmed the filing of the appeal, stating,

“We can confirm we have filed our appeal.”

The CMA’s decision to stop the largest gaming deal has made Microsoft and Activision Blizzard angry. Microsoft expressed its unhappiness and pointed out that it could negatively affect the confidence of tech companies considering investing in the UK.

Interestingly, the European Union’s competition authorities took a different stance on the acquisition, approving it earlier this month. Microsoft provided solutions to address competition concerns, which the EU considered similar to the ones proposed in the UK.

In addition, Microsoft Corporation (NASDAQ: MSFT) has decided to challenge the United States Federal Trade Commission (FTC) because they tried to stop the acquisition. The FTC is worried that the acquisition will harm competition.

The CAT’s primary role in this appeal process is to assess the merits of the CMA’s decision. It should be clarified that this appeal does not allow Microsoft to present new remedies or proposals.