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Why Activision Blizzard (ATVI) Shares Are Trading Higher Today - Microsoft (NASDAQ:MSFT)
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- Activision Blizzard, Inc ATVI shares gained 6% after the U.K. antitrust regulator capped its concerns regarding the Microsoft Corp MSFT deal.
- On Friday, the Competition and Markets Authority issued updated provisional findings in its assessment of Microsoft's proposed acquisition of Activision, narrowing its scope of concerns.
- The CMA's new evidence provisionally alleviates concerns concerning the supply of gaming consoles in the U.K.
- In February, the CMA flagged competition concerns concerning console gaming and cloud gaming services in the U.K.
- The most significant new evidence relates to Microsoft's financial incentives to make Activision's games, including Call of Duty (CoD), exclusive to its consoles.
- The updated analysis shows that it would not be commercially beneficial to Microsoft to make CoD exclusive to Xbox after the deal.
- Microsoft will still gain to continue making the game available on Sony Group Corp SONY PlayStation.
- However, the regulatory investigation continues, with a final report due by April 26, 2023.
- Recently Microsoft cut decade-long deals with Nvidia Corp NVDA and Nintendo Co, Ltd (OTC: NTDOF) NTDOY to win over opposition against its Activision deal.
- Price Action: ATVI shares traded higher by 6.10% at $84.54 on the last check Friday.
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