News

Microsoft and the UK are entering a new round of negotiations over the Activision contract

[ad_1]

Microsoft and the UK’s Competition and Markets Authority (CMA) have agreed to drop legal action against each other in order to conduct further negotiations over the Activision Blizzard deal. This news is announced while a few hours ago, a US court judge ruled in favor of the Redmonds in the case of Microsoft and the Federal Trade Commission (FTC).

With the green light from the US court and the official approval of the Microsoft and Activision deal in Europe and China, the UK is now the only country to take an official stance against the deal. If the UK agrees, Microsoft can safely finalize the $68.7 billion Activision deal.

The UK Competition and Markets Authority, which is considered the country’s regulatory body, announced about two months ago that it would prevent the conclusion of the contract. Microsoft quickly contested this decision and took the case to court. The court session was supposed to be held on July 28 (August 6).

to report Verge, Microsoft has agreed to stay the appeal process of the CMA ruling. Microsoft and the UK enter a new round of negotiations to reach an agreement on the Activision contract.

Brad SmithMicrosoft’s CEO says in a statement that after the US court’s ruling, Microsoft’s focus will now be on the UK. According to Smith, Microsoft disagrees with the CMA’s concerns; But it is considering how to amend the deal to address the concerns. Microsoft says it is in the public interest to stop the legal case in the UK.

The UK’s Competition and Markets Authority confirmed Microsoft’s claims. The regulatory body says it is ready to receive any proposal from Microsoft to amend the contract.

Microsoft and Activision have filed a request to set aside the case at the Competition Appeals Tribunal (CAT), which the court must agree to. Obviously, it is unlikely that we will see CAT opposing Microsoft’s request.

The British Competition and Markets Authority requested the postponement of the appeal court during the Microsoft and Federal Trade Commission hearings; But the CAT rejected that plea.

[ad_2]
Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker