[ad_1]
Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard’s games character.
Dado Ruvic | Reuters
Microsoft on Tuesday submitted a new deal to U.K. regulators for the takeover of Activision Blizzard after the rejection of its initial proposal.
The U.S. technology giant first put forward the $69 billion acquisition of Activision in January 2022 but has since faced regulatory challenges in the U.S., Europe and U.K.
On Tuesday, the U.K.’s Competition and Markets Authority confirmed it has blocked the original deal. However, it said both Microsoft and Activision have agreed to a new, restructured agreement, which will now be investigated by the CMA with a decision deadline of Oct. 18.
Under the restructured deal, Microsoft will not acquire cloud rights for existing Activision PC and console games, or for new games released by Activision during the next 15 years, the CMA said.
Instead, these rights will be divested to game publisher Ubisoft Entertainment prior to Microsoft’s acquisition of Activision, the CMA added.
This is a breaking news story. Please check back for more.
[ad_2]
