"Microsoft's Gaming Deal Raises Doubts on UK's Post-Brexit Direction"

The UK's Competition and Markets Authority (CMA) has maintained its decision to block Microsoft's $69 billion bid to acquire Activision Blizzard, but will consider a separate restructured deal proposed by Microsoft. The new proposal involves Activision divesting its cloud streaming rights to Ubisoft Entertainment, excluding the European Union. The CMA's objection to the deal reflects its tough stance on big technology companies, and the outcome raises doubts about the CMA's power to block megadeals that are not in line with other major jurisdictions. The CMA will review the new proposal and make an announcement by October 18.