The UK Competition and Markets Authority (CMA) has extend the deadline for making a final decision about purchase Activision Blizzard by Microsoft.
CMA is scheduled to formally reject the deal on July 18, however Microsoft has submitted a “detailed and complex” proposal leading to an extension of the deadline by regulators.
Regulatory agency will spend an additional six weeks evaluating new proposals, with a revision deadline set for August 29. Based on BloombergMicrosoft is exploring possibly selling some of the rights to a cloud gaming service in the UK to convince regulators.
CMA extended the deadline to August 29.
The CMA argued that the deal should be blocked because of those concerns cloud gaming services will negatively impact competition in this growing sector.
These rights can be sold to telecommunications, gaming, or computer companies. Potential interest from private equity firms was also mentioned. The CMA has also expressed its willingness to consider “buy back questions” in case of changes to the agreement.
Microsoft has set July 18th as the deadline to complete the Activision Blizzard acquisition. Failure to meet that date could result in a fine of up to $3,000 million, although renegotiation is possible. Because of that, Microsoft is trying to complete the agreement as soon as possible.
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