- Microsoft Corp MSFT accused Britain's competition watchdog of relying on "self-serving" input from fierce rival Sony Group Corp SONY in its decision to probe the tech giant's $69 billion takeover of Activision Blizzard, Inc ATVI.
- The Competition and Markets Authority opened a more comprehensive review of the deal in September, citing antitrust concerns.
- The CMA highlighted that the main rival that could be affected by the deal would be Sony and pointed to Microsoft's past "strategies" to justify taking a closer look at the tie-up, Bloomberg reports.
- Microsoft said CMA incorrectly relied on self-serving statements by Sony, which significantly overstated the importance of Call of Duty. It said the authority had adopted the complaints of market leader Sony without the appropriate level of critical review.
- The deal will make Microsoft the world's third-largest gaming company and boost the Xbox maker's roster of titles for its Game Pass subscribers.
- Microsoft faced scrutiny from global regulators, including in the U.S.
- NVIDIA Corp NVDA had dumped its acquisition plans of British chipmaker Arm Ltd from SoftBank Group SFTBY SFTBF following regulatory protests.
- Price Action: MSFT shares traded lower by 0.44% at $224.43 on the last check Wednesday.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.