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MICROSOFT CORPORATION

(MSFT)
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Real-time Estimate Cboe BZX  -  07:21 2022-12-01 am EST
253.36 USD   -0.70%
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UK watchdog wants deeper probe into Microsoft's $69-bln Activision deal

09/15/2022 | 07:10am EST

Sept 15 (Reuters) - Britain's antitrust watchdog said on Thursday it would launch an in-depth probe into Xbox maker Microsoft's $69-billion purchase of "Call of Duty" maker Activision Blizzard after the tech giant failed to offer remedies to soothe competition concerns.

The deal, announced in January, will require approval in the United States as well as other major jurisdictions including the European Union and China.

Britain's Competition and Markets Authority (CMA) said earlier this month the takeover of the videogame publisher maker could hurt competition in gaming consoles, subscription services and cloud gaming if Microsoft refused to give competitors access to Activision's best-selling games.

The regulator had given the companies until Sept. 8 to submit proposals to address the CMA's concerns.

On Thursday, the CMA added that Microsoft informed the regulator that it would not be offering any undertakings.

Microsoft did not offer any remedies during the preliminary investigation because the CMA typically prefers significant concessions in the first phase, a person familiar with the matter said.

Microsoft, on the other hand, reiterated its statement from early September saying that it is ready to work with the CMA on next steps and address any of its concerns.

Activision did not immediately respond to Reuters' request for comment.

Reuters previously reported that Microsoft would pay a $3 billion break-up fee if the deal falls through, according to a source familiar with the matter, suggesting the company was confident of winning antitrust approval.

A spokesperson for Microsoft rival Sony Interactive Entertainment welcomed the CMA's move.

“We welcome today’s announcement by the UK Competition and Markets Authority (CMA) that it has opened a full-scale investigation into Microsoft’s proposed acquisition of Activision.

"By giving Microsoft control of Activision games like Call of Duty, this deal would have major negative implications for gamers and the future of the gaming industry. We want to guarantee PlayStation gamers continue to have the highest quality gaming experience, and we appreciate the CMA’s focus on protecting gamers.” (Reporting by Amna Karimi and Radhika Anilkumar in Bengaluru and Foo Yun Chee in Brussels; Editing by Vinay Dwivedi and Susan Fenton)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ACTIVISION BLIZZARD, INC. -0.52% 73.95 Delayed Quote.11.15%
MICROSOFT CORPORATION 6.16% 255.14 Delayed Quote.-28.54%
SONY GROUP CORPORATION 0.62% 11325 Delayed Quote.-22.25%
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Analyst Recommendations on MICROSOFT CORPORATION
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Financials (USD)
Sales 2023 213 B - -
Net income 2023 71 663 M - -
Net cash 2023 68 340 M - -
P/E ratio 2023 26,7x
Yield 2023 1,03%
Capitalization 1 902 B 1 902 B -
EV / Sales 2023 8,61x
EV / Sales 2024 7,42x
Nbr of Employees 221 000
Free-Float 99,9%
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Technical analysis trends MICROSOFT CORPORATION
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 50
Last Close Price 255,14 $
Average target price 296,98 $
Spread / Average Target 16,4%
EPS Revisions
Managers and Directors
Satya Nadella Chairman & Chief Executive Officer
Bradford L. Smith President & Chief Legal Officer
Amy E. Hood Chief Financial Officer & Executive Vice President
James Kevin Scott Chief Technology Officer & Executive VP
Hemma Prafullchandra CTO
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