Britain will block Microsoft’s (MSFT.O) $69 billion acquisition of “Call of Duty” maker Activision Blizzard (ATVI.O) over its concerns it would hinder competition in cloud gaming, dealing an unexpected blow to the biggest-ever deal in gaming.
The country’s antitrust regulator said on Wednesday that Microsoft’s commitment to offer access to Activision’s multi-billion dollar “Call of Duty” franchise to leading cloud gaming platforms would not effectively remedy its concerns.
Microsoft said in a statement it remained fully committed to the acquisition and would appeal the decision, while Activision said it would “work aggressively” with Microsoft to reverse it.
“We will reassess our growth plans for the UK,” Activision said. “Global innovators large and small will take note that – despite all its rhetoric – the UK is clearly closed for business.”
Activision’s shares were down more than 10% in U.S. pre-market trade.
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