U-turn for Microsoft. The company saw how within a few minutes it won the case against the US Federal Trade Commission only to agree moments later with the UK’s Capital Markets Authority to suspend litigation. Brad Smith, the company’s president, has shared a statement currently explaining the situation:
“Following today’s US court decision, our focus now turns to the UK. While we ultimately do not agree with the CMA’s concerns, we are looking at how to amend the deal to address those concerns in a manner acceptable to the CMA.
In order to prioritize action on these proposals, Microsoft and Activision have agreed with the CMA that it would be in the public interest to stop litigation in the UK and the parties have submitted a joint report to the Competition Appeal Tribunal on this impact. “
It was in April when the CMA announced it was blocking an offer to buy Activision Blizzard on English soil and an appeal was scheduled for July 28th by Microsoft. now, The three actors in this legal mess decided to sit down to negotiate.
In other words, the CMA is willing to listen to and evaluate the adjustments that Microsoft makes regarding the acquisition of the company led by Bobby Kotick. The goal is to reach a point of agreement where all parties are satisfied, although it is still necessary for the CAT (Competition Appeals Tribunal) to agree to this application, even though they will most likely give the green light to it.
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