Microsoft’s revised offer to acquire Activision Blizzard, the maker of popular video game Call of...
Published: 12:26 pm October 13, 2023
Updated: 10:40 am October 8, 2025
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Microsoft’s revised offer to acquire Activision Blizzard, the maker of popular video game Call of Duty, has received approval from UK regulators. The Competition and Markets Authority (CMA) gave the green light to the deal after previously blocking the original $69 billion bid in April. This decision marks the end of a nearly two-year battle to secure the gaming industry’s largest-ever takeover.

However, while the takeover has been approved, the CMA criticised Microsoft’s conduct throughout the process. Earlier this year, after the initial bid was blocked, Microsoft’s president, Brad Smith, publicly criticised the CMA’s decision, deeming it “bad for Britain.” In response, CMA chief executive Sarah Cardell expressed her dissatisfaction, stating that Microsoft’s tactics were not the appropriate way to engage with the regulatory authority. She further criticised Microsoft for prolonging the proceedings and wasting time and money by insisting on measures that were deemed ineffective.

In the revised deal, Microsoft will transfer the rights to distribute Activision’s games on consoles and PCs over the cloud to French video game publisher Ubisoft. The CMA believes that this reworked agreement will help maintain competitive prices within the gaming industry, while also offering consumers more choices and improved services.

In other news, the UK’s FTSE 100 index remained relatively unchanged on Friday. While energy shares experienced gains due to higher crude prices, concerns about the U.S. interest rate trajectory kept the market cautious. Ashmore, a fund manager, saw its shares decline after reporting a drop in assets under management in the first quarter.

Globally, equities faced pressure following the release of higher-than-expected U.S. consumer prices data, which increased the likelihood of the Federal Reserve tightening monetary policy. Despite these concerns, both the FTSE 100 and mid-cap index are on track to achieve their largest weekly gains in four weeks.

Within the UK market, shares of oil majors Shell and BP rose as crude prices climbed. Precious metal and industrial metal miners also saw gains as gold and copper prices edged higher. However, fund manager Ashmore experienced a decline in assets under management during the September quarter, affected by weaker economic data from China and high interest rates.

St James’s Place, a wealth manager, faced a significant drop of 9.8% in its share price after reports suggested that regulators were pressuring the company to overhaul its fees. This development contributed to a broader decline of 1.4% in the investment banking and brokerage services sector.

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