“UK lawmakers question CMA’s decision to block Microsoft’s acquisition of Activision Blizzard”

Now that the European Union is on board with Microsoft’s $68.7 billion acquisition of Activision Blizzard, lawmakers in the UK are starting to turn their attention to the Competition and Markets Authority, and have started questioning the CMA’s decision to block the UK deal.

CMA bosses Marcus Bokkerink and Sarah Cardell have been questioned about the decision the regulator is taking, with many lawmakers concerned about the bloc affecting Britain’s reputation at the international level, with many concerns surrounding Britain being open for business, something Microsoft and Activision executives have stated are unclear. after the CMA decision.

As shown in the recording session at Parliamentlive.tv (and reported by Eurogamer), Bokkerink CMA has responded to these concerns from MPs, stating:

“I understand the conclusion – that when decisions are made that block a deal, there is a question of whether the UK is open for business. All businesses know there is a very big difference between building a business, investing in a new business, investing in a startup, creating a new business – there is a big difference between that and buying an established, established company with an established position.The two are not the same.

“The UK has always pushed – and it is the CMA’s job to encourage – open competitive markets. We are vigilant – because it is our job – for investments that consolidate entrenched market power.”

While the European Union backed the deal, the CMA also pointed the finger at the US and how the Federal Trade Commission is still in the process of trying to block the monumental merger.

Either way, the CMA appears to be standing firm by its decision, which Microsoft will appeal all the same, a process that will no doubt take months, if not years, to complete.