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HomeBusinessThe shares of Activision Blizzard Inc. rose on good regulatory news

The shares of Activision Blizzard Inc. rose on good regulatory news

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Credit Activision Blizzard Twitter

The Competition and Markets Authority of the United Kingdom has reduced the scope of its probe into Microsoft’s (MSFT) acquisition of games publisher Activision Blizzard (ATVI), sending Activision Blizzard’s stock soaring on Friday.

Microsoft can count this as a victory in its quest to grow its video game division. With mega-mergers like the purchase of ZeniMax Media, the parent company of Bethesda Softworks, the Redmond, Washington tech behemoth has increased its emphasis on the gaming industry.

Provisional results from the CMA’s investigation into the takeover were released in February, indicating that the transaction may lead to increased prices, fewer options, and less innovation. The regulator expressed worry that the merger would significantly reduce competition in the console gaming market.

The regulator has since gotten “a significant amount” of comments from stakeholders in the industry regarding the proposed transaction. The CMA claims it now has more reason to doubt the merger will harm platform gaming competition in light of the new information.

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