The U.K.'s competition regulator on Friday said it has narrowed the scope of its investigation into Microsoft's takeover of Activision.
The development marks a partial win for Microsoft, as it pursues an expansion of its video game business. The Redmond, Washington-based technology giant has deepened its focus on gaming through blockbuster acquisitions, such as its purchase of ZeniMax Media, the parent company of Bethesda Softworks.from its probe into the takeover, stating at the time that the transaction may result in higher prices, fewer choices and less innovation.
"Having considered the additional evidence provided, we have now provisionally concluded that the merger will not result in a substantial lessening of competition in console gaming services because the cost to Microsoft of withholding Call of Duty from PlayStation would outweigh any gains from taking such action," Martin Coleman, chair of the independent panel of experts conducting the CMA investigation, said in a statement Friday.
Shares of Activision Blizzard surged more than 6% in U.S. premarket trading. Microsoft shares declined slightly amid a broad market slump.The CMA announcement comes after the U.S. technology giant has also won support from some companies that were against the deal, or sitting on the fence.
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