Microsoft on Friday received preliminary approval from British competition regulators for its restructured $69 billion deal to buy video game maker Activision Blizzard, easing a final global hurdle that paves the way for one of the largest tech deals to go down in history.
The Competition and Markets Authority stated that the revamped proposal “substantially addresses previous concerns” regarding the stifling competition in the fast growing cloud gaming market, which frees players from buying expensive consoles and gaming computers by phones, tablets, and other devices.
The watchdog has said that the updated offer from the tech giant has opened the door to the deal being cleared, however, there are still lingering concerns.
This announcement shows that the UK watchdog is close to reversing its earlier decision to block Microsoft from taking over the maker of hit gaming franchises like Call of Duty and World of Warcraft.
Ever since the deal was announced in January 2022, Microsoft has secured approvals from antitrust authorities which covers more than 40 countries. Initially, it got thumbs up from 27 nations of European Union, however, it hit the rough patch when U.S and Britain’s regulators that this deal would harm the competition and hurt gamers, especially those who prefer Sony’s PlayStation rather than Microsoft’s Xbox.