Microsoft offers EU remedies seeking OK on Activision deal
Reuters
Published Mar 17, 2023 06:43AM ET
Updated Mar 17, 2023 12:18PM ET
By Foo Yun Chee
BRUSSELS (Reuters) - Microsoft Corp (NASDAQ:MSFT) has offered remedies in an attempt to gain EU antitrust approval for its $69 billion acquisition of Activision, a European Commission filing showed on Friday.
The EU competition enforcer, which did not provide details in line with its policy, will now seek feedback from rivals and customers before making its decision by May 22.
Microsoft President Brad Smith has said the U.S. software company was prepared to offer rivals licensing deals to ease competition concerns but not to selling Activision's lucrative "Call of Duty" franchise.
The company has in recent weeks signed agreements with three companies to bring "Call of Duty" to their platforms.
"We have stood behind our promise to bring Call of Duty to more gamers on more devices by entering into agreements to bring the game to the Nintendo console and cloud game streaming services offered by Nvidia (NASDAQ:NVDA), Boosteroid, and Ubitus," a spokesperson said.
"We are now backing up that promise with binding commitments to the European Commission, which will ensure that this deal benefits gamers into the future."
The company is likely to win EU clearance for the deal with such licensing deals and other behavioural remedies, sources have told Reuters while the jury is still out on whether the UK competition enforcer will do the same.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.