2023-05-09 08:19:08
Many were shocked when the UK Competition and Markets Authority decided to block Microsoft’s acquisition of Activision Blizzard for $68.7 billion recently, especially since the reason for the CMA’s blocking revolved around the market. cloud gaming and how that might affect competition in that industry down the line. Needless to say, Microsoft was not happy with the decision and instantly announced that it would appeal.
Now The Telegraph (thanks, Yahoo! Finance) reported that Microsoft intends to file its appeal once morest the CMA “in the next few days” and that he hired a lawyer who would have experience in overriding regulatory bodies.
Daniel Beard KC was hired to help Microsoft win that appeal, continuing his work that began late in the approval process and shortly before the CMA blocked the acquisition.
As for the timing of the appeal, it is said that it might take months, and well beyond the original July 18 deadline that has been set. However, that deadline will likely be extended anyway, as US regulators also appear to be keen to challenge the acquisition.
The report also says that the European Commission is expected to deliver its verdict on the matter in the coming weeks, and that this body is leaning towards approving the deal.
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