Yves Guillemot, CEO and co-founder of Ubisoft, speaks at the Ubisoft Forward livestream event in Los Angeles, California, on June 12, 2023. Shares of French game maker Ubisoft popped 9% in Europe trading Tuesday after Microsoft submitted a new deal for the takeover of Activision Blizzard to try and appease wary U.K. regulators. The U.K.'s Competition and Markets Authority confirmed it blocked the original $69 billion deal that Microsoft first put forward in January 2022. Instead, these rights will be divested to Ubisoft before Microsoft's acquisition of Activision Blizzard. Ubisoft offers cloud games on services like Amazon Luna and Nvidia 's GeForce Now, which compete with Microsoft's Xbox streaming service.

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Persons: Yves Guillemot, Brad Smith, Tom Clancy's, Smith, CNBC's Arjun Kharpal Organizations: Ubisoft, Microsoft, Activision Blizzard, Markets Authority, CMA, Activision Blizzard PC, Activision, Amazon, Nvidia Locations: Los Angeles , California, Europe, U.S