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☆ Microsoft and Amazon to invest $5.6 billion into France as Macron courts tech giants
▼ + stars: | 2024-05-13 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Microsoft said in a statement Monday that it's committing 4 billion euros ($4.3 billion) toward expanding its cloud and AI infrastructure in France, in addition to funding AI skilling and support for France's technology industry. The announcement was made during the "Choose France" summit, a gathering dedicated to encouraging foreign investment in France. Amazon, meanwhile, made a commitment of its own to invest 1.2 billion euros in France. Collectively, the commitments from Microsoft and Amazon to France amount to $5.6 billion of funding. In total, France reportedly bagged a record 15 billion euros of investment commitments from foreign companies at an annual "Choose France" summit on Monday.

Persons: it's, ”, Brad Smith, “, —, Frederic Duval, Duval, Emmanuel Macron, Macron, Redmond Organizations: Microsoft, Amazon, Facebook, FAIR, Mistral Locations: Athens, Greece, France, French, Mulhouse, Amazon's, Paris, Washington, Mistral

☆ UK opens antitrust probe into Vodafone merger with CK Hutchison's Three mobile network
▼ + stars: | 2024-01-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

A pedestrian walks past a Vodafone store in central London on May 16, 2023. British mobile giant Vodafone is to axe 11,000 jobs over three years in the latest cull to hit the tech sector, as new boss Margherita Della Valle slammed recent performance. Britain's competition watchdog on Friday said it is opening an investigation into the proposed merger between Vodafone and the Three UK mobile network owned by CK Hutchison . The initial probe will look at whether the deal will lead to a "substantial lessening of competition," according to the U.K. Competition and Markets Authority (CMA). "The CMA will assess how this tie-up between rival networks could impact competition before deciding next steps."

Persons: Margherita Della Valle, CK Hutchison, Sarah Cardell Organizations: Vodafone, CK, U.K, Competition, Markets Authority, CMA Locations: London, British

☆ Amazon latest to criticise Microsoft in UK cloud market probe
▼ + stars: | 2023-12-05 | by ( Martin Coulter | ) www.reuters.com time to read: +2 min

REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsLONDON, Dec 5 (Reuters) - Amazon (AMZN.O) has told Britain's antitrust authority its rival Microsoft (MSFT.O) uses business practices that restrict customer choice in the cloud computing market, the second major company to criticise the U.S. tech giant's operations. Britain's Competition and Markets Authority (CMA) launched an investigation into the country’s cloud computing industry in October, following a referral from media regulator Ofcom that highlighted Amazon and Microsoft’s dominance of the market. “To use many of Microsoft’s software products with these other cloud services providers, a customer must purchase a separate license even if they already own the software,” Amazon said. In its own submission to the CMA, Microsoft said Britain's cloud computing market remained competitive. "There are many sources of competition in the cloud market in the UK.

Persons: Fabian Bimmer, Amazon, Martin Coulter, Jane Merriman, Mark Potter Organizations: Microsoft, Hannover Messe, REUTERS, Britain's, Markets Authority, CMA, Ofcom, ”, Reuters, Google, Oracle, IBM, Thomson Locations: Hanover, Germany

☆ UK regulator says Adobe's $20 bln Figma deal could harm sector
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: 1 min

Adobe logo is seen on smartphone in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 28 (Reuters) - Britain's competition regulator on Tuesday said Photoshop owner Adobe Inc's (ADBE.O) $20 billion buyout of cloud-based designer platform Figma would "likely harm innovation for software used by the vast majority of UK digital designers." In July, the Competition and Markets Authority (CMA) launched an in-depth, or phase two, investigation into the deal after Adobe said it would not offer any concessions to ease the regulator's concerns. Reporting by Eva Mathews in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Eva Mathews, Nivedita Organizations: REUTERS, Adobe, Markets Authority, CMA, Thomson Locations: Bengaluru

☆ Figma reviewing EU's objections against $20 bln Adobe buyout bid
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

Adobe logo is displayed on a smartphone screen in front of a stock graph in this illustration taken, June 13, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 17 (Reuters) - Figma said on Friday it was carefully reviewing the EU competition watchdog's statement of objections related to Photoshop maker Adobe's (ADBE.O) proposed $20 billion bid to buy out the cloud-based designer platform. The transaction could create a dominant player of interactive product design tools by combining Figma, a clear market leader, and one of its largest competitors Adobe, the commission said. Adobe's chief counsel Dana Rao told Reuters on Wednesday that the company is open to proposing remedies to resolve regulatory concerns. Reporting by Bhanvi Satija in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Figma, Dana Rao, Bhanvi, Shilpi Majumdar Organizations: REUTERS, EU, Big Tech, European Commission, Adobe, Video Communications, Reuters, Thomson Locations: San Francisco, Bengaluru

☆ UK secures commitments from Amazon and Meta over retail platforms
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Amazon is seen at the Viva Technology conference at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsLONDON, Nov 3 (Reuters) - Britain's competition watchdog said on Friday it had accepted commitments from tech companies Meta (META.O) and Amazon (AMZN.O) to help protect fair competition on their retail platforms. The commitments from the U.S. tech giants mark the end of the Competition & Markets Authority's (CMA) investigation into Amazon Marketplace and Meta's use of advertising data. Amazon has committed to not use rival sellers' marketplace data to gain an unfair advantage, ensuring that third-party marketplace sellers can compete on a level-playing field, the CMA said. CMA in July had said that Amazon's offer to change the way it treats third-party sellers using its Marketplace platform addresses competition concerns in its preliminary view.

Persons: Gonzalo Fuentes, Meta, Kylie MacLellan, Farouq Suleiman, Radhika Anilkumar, William James, David Evans Organizations: Viva Technology, Porte de, REUTERS, Competition, Amazon Marketplace, CMA, Facebook, Thomson Locations: Paris, France, U.S, London, Bengaluru

☆ UK extends deadline on in-depth probe into Adobe's $20 bln deal for Figma
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

Figurines are seen in front of displayed Adobe logo in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 25 (Reuters) - Britain's competition regulator, on Wednesday, extended by eight weeks the deadline to complete its in-depth probe into Photoshop owner Adobe Inc's (ADBE.O) $20 billion buyout of cloud-based designer platform Figma, to February 2024. The CMA now has until Feb. 25 to conclude its investigation, compared to the earlier deadline of Dec. 27. In September 2022, Adobe announced a cash-and-stock deal for Figma, the biggest buyout of a privately owned software startup. Reporting by Eva Mathews in Bengaluru; Editing by Sherry Jacob-Phillips and Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Eva Mathews, Sherry Jacob, Phillips, Savio D'Souza Organizations: REUTERS, Adobe, Markets Authority, CMA, Figma, Zoom Video Communications, Airbnb Inc, Thomson Locations: Bengaluru

☆ Microsoft-Activision: Ubisoft deal helps win Britain's nod
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

Oct 13 (Reuters) - Britain's antitrust regulator on Friday cleared Microsoft's (MSFT.O) acquisition of "Call of Duty" maker Activision Blizzard (ATVI.O) after the restructured deal substantially addressed its earlier concerns. In August, Activision agreed to sell its non-European streaming rights to Ubisoft Entertainment (UBIP.PA) to get the biggest deal yet in video-gaming past Britain's Competition and Markets Authority (CMA). "We have now crossed the final regulatory hurdle to close this acquisition, which we believe will benefit players and the gaming industry worldwide," Microsoft President Brad Smith said. The company had in July extended the deadline to close the deal by Oct. 18. Here is a snapshot of key events in the Microsoft-Activision saga:Reporting by Tiyashi Datta, Jaspreet Singh and Yadarisa Shabong in Bengaluru; Editing by Anil D'Silva, Shinjini Ganguli and Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Brad Smith, Tiyashi Datta, Jaspreet Singh, Yadarisa, Anil D'Silva, Shinjini Organizations: Activision, Ubisoft Entertainment, Markets Authority, Microsoft, Thomson Locations: Bengaluru

☆ UK regulator clears $1.52 billion UnitedHealth-EMIS deal
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: 1 min

Sept 29 (Reuters) - Britain's competition regulator said on Friday it has cleared UnitedHealth Group's (UNH.N) 1.24 billion-pound ($1.52 billion) acquisition of healthcare technology firm EMIS (EMISG.L). The Competition and Markets Authority (CMA) confirmed it found no competition concerns in the deal between specialist healthcare tech and software companies, which provide services to Britain's National Health Service (NHS). Optum UK, part of U.S.-based UnitedHealth, unveiled an offer to acquire EMIS in June last year, to position the combined entity to provide better services to the NHS. ($1 = 0.8173 pounds)Reporting by Richard Rohan Francis in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Richard Rohan Francis, Eileen Soreng Organizations: Markets Authority, CMA, National Health Service, Optum, Thomson Locations: U.S, Bengaluru

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. The case is set to be heard 20 days after an appeals court rules on whether the deal may go forward. The FTC had fought the deal in district court but lost and appealed. "We have full confidence in our case and the deal's benefits to gamers and competition," a Microsoft spokesperson said by email. The FTC said in a statement it continued to believe that the deal was "a threat to competition" and so was putting the matter on its calendar.

Persons: Dado Ruvic, Victoria Graham, Diane Bartz, David Holmes, Richard Chang Organizations: Microsoft, Activision, REUTERS, Rights, U.S . Federal Trade Commission, FTC, Markets Authority, Ubisoft Entertainment, Thomson Locations: U.S, London

☆ Britain says may clear restructured Microsoft-Activision deal
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Sept 22 - Microsoft's (MSFT.O) restructured acquisition of Activision Blizzard (ATVI.O) "opens the door" to the deal being cleared, Britain's antitrust regulator said on Friday. The Ubisoft divestment "substantially addresses previous concerns," the UK's Competition and Markets Authority (CMA) said in a statement. "While the CMA has identified limited residual concerns with the new deal, Microsoft has put forward remedies which the CMA has provisionally concluded should address these issues," the regulator said. The CMA said there were "residual concerns" that certain provisions in the Ubisoft deal could be circumvented, terminated or not enforced.

Persons: Dado Ruvic, Brad Smith, Yadarisa, Paul Sandle, Varun, Jason Neely Organizations: Microsoft, Activision, REUTERS, Activision Blizzard, Ubisoft Entertainment, Ubisoft, Markets Authority, CMA, Thomson Locations: U.S, Bengaluru, London

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. "While the CMA has identified limited residual concerns with the new deal, Microsoft has put forward remedies which the CMA has provisionally concluded should address these issues," the regulator said. The European Union waved the deal through in May after accepting Microsoft's commitments to license Activision's games to other platforms, the same remedies that Britain had rejected. The U.S. Federal Trade Commission also opposes the deal, but it has failed in its attempts to stop it. The CMA said there were "residual concerns" around the Ubisoft deal, but Microsoft has offered remedies to ensure the terms of the sale were enforceable by the regulator.

Persons: Dado Ruvic, Brad Smith, Sarah Cardell, Sophie Lund, Yates, Hargreaves Lansdown, Yadarisa, Paul Sandle, Varun H, Jason Neely, Sharon Singleton Organizations: Microsoft, Activision, REUTERS, Ubisoft UK's CMA, CMA, Activision Blizzard, Ubisoft Entertainment, Competition, Markets Authority, Ubisoft, Union, U.S . Federal Trade Commission, Thomson Locations: U.S, Britain, Bengaluru, London

☆ Microsoft-Activision: Ubisoft deal opens doors to Britain's nod
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: 1 min

Sept 22 (Reuters) - Microsoft's (MSFT.O) restructured acquisition of Activision Blizzard (ATVI.O) "opens the door" to the deal being cleared, Britain's antitrust regulator said on Friday. Last month, "Call of Duty" maker Activision agreed to sell its non-European streaming rights to Ubisoft Entertainment (UBIP.PA) to get the biggest deal yet in video-gaming past Britain's Competition and Markets Authority (CMA). Here is a snapshot of key events in the Microsoft-Activision saga:Reporting by Tiyashi Datta, Jaspreet Singh and Yadarisa Shabong in Bengaluru; Editing by Anil D'Silva, Shinjini Ganguli and Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Tiyashi Datta, Jaspreet Singh, Yadarisa, Anil D'Silva, Shinjini Organizations: Activision Blizzard, Activision, Ubisoft Entertainment, Markets Authority, Microsoft, Thomson Locations: Bengaluru

☆ Governments race to regulate AI tools
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +7 min

ITALY* Investigating possible breachesItaly's data protection authority plans to review artificial intelligence platforms and hire AI experts, a top official said in May. ChatGPT became available to users in Italy in April after being temporarily banned over concerns by the national data protection authority in March. The country's privacy watchdog said in June it had warned OpenAI not to collect sensitive data without people's permission. SPAIN* Investigating possible breachesSpain's data protection agency said in April it was launching a preliminary investigation into potential data breaches by ChatGPT. It has also asked the EU's privacy watchdog to evaluate privacy concerns surrounding ChatGPT.

Persons: Dado Ruvic, Ursula von der Leyen, CNIL, Ziv Katzir, Israel, ChatGPT, OpenAI, Antonio Guterres, Guterres, Mark Zuckerberg, Elon Musk, Lawmakers, Joe Biden's, Beryl Howell, Alessandro Parodi, Amir Orusov, Kirsten Donovan, Mark Potter, Christina Fincher, Milla Nissi Organizations: REUTERS, Baidu, Microsoft, Markets Authority, Big Tech, Britain, HK, SenseTime, Israel Innovation Authority, EU, UNITED, . Security, International Atomic Energy Agency, United Nations, U.S, IBM, Nvidia, Washington D.C, U.S . Federal Trade Commission, Thomson Locations: AUSTRALIA, Australia, BRITAIN, CHINA, China, FRANCE, Italy, Hiroshima, Japan, IRELAND, ISRAEL, Israel, ITALY, JAPAN, U.S, SPAIN, New York, Washington, Gdansk

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. The European Commission had cleared the deal in May after Microsoft agreed to license popular Activision games such as "Call of Duty" to rival game-streaming platforms. That clearance was given before Microsoft proposed the Ubisoft deal to appease the UK regulator. However, the EU antitrust watchdog has since emailed companies to ask for feedback, the sources told Reuters. An EU investigation looks unlikely, other sources said, citing the structuring of Microsoft's CMA proposal to ensure compliance with its EU remedies.

Persons: Dado Ruvic, Microsoft's, Foo Yun, Jason Neely, David Goodman Organizations: Microsoft, Activision, REUTERS, Rights, Activision Blizzard, Ubisoft Entertainment, Britain's, Markets Authority, European Commission, Ubisoft, Reuters, CMA, Thomson Locations: Rights BRUSSELS, U.S, EU

High food prices are a concern for all European governments, with retailers and consumer goods groups trading blame. In Hungary, Prime Minister Viktor Orban has imposed mandatory price cuts on some basic food items. And in Portugal, the government announced in March a package to help low-income families, including scrapping the value added tax on essential food products. French retailers have called for more regular price negotiations with consumer goods companies to reflect changes in the price of raw materials. This year those negotiations led to a 10% increase on the price of products on supermarket shelves.

Persons: Eric Gaillard, Bruno Le Maire, Mousquetaires, Thierry Cotillard, It's, Carrefour Alexandre Bompard, Viktor Orban, Le Maire, Dominique Vidalon, Helen Reid, Silvia Aloisi, Ingrid Melander, Bernadette Baum, David Evans, David Gregorio Our Organizations: REUTERS, Rights, French Finance, Federation du Commerce, RTL, Carrefour, FDC, Thomson Locations: Nice, France, Italy, Hungary, Portugal, Paris, London

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. The carve-out is designed to not upset a deal with Brussels for Microsoft to license content to rival cloud services. The CMA's block in April drew fury from the merging parties, with Microsoft saying that Britain was closed for business. It said on Tuesday that it had not felt any political pressure over its handling of the deal. The CMA will also avoid having to defend its original block in court, and Microsoft finally looks set to secure its deal.

Persons: Dado Ruvic, Ronan Scanlan, Arthur Cox, Gustaf Duhs, Scanlan, Antony O'Loughlin, Setfords, Tom Smith, there's, Smith, Kate Holton, Paul Sandle, Martin Coulter, Matthew Lewis Organizations: Microsoft, Activision, REUTERS, Markets Authority, U.S, Ubisoft Entertainment, European Union, U.S ., CMA, Reuters, Stevens & Bolton, Ubisoft, European, Geradin Partners, Big Tech, Thomson Locations: Britain, U.S, Brussels, Dublin, United States, European Union, China, London

Microsoft announced the biggest gaming deal in history in early 2022, but the acquisition was blocked by Britain's competition regulator, which was concerned the U.S. computing giant would gain too much control of the nascent cloud gaming market. Under the restructured deal, Microsoft will not be able to release Activision games like "Overwatch" and "Diablo" exclusively on its own cloud streaming service — Xbox Cloud Gaming – or to exclusively control the licensing terms for rival services. Instead, French gaming rival Ubisoft will acquire the cloud streaming rights for Activision's existing PC and console games, and any new games released by Activision in the next 15 years. A view shows a Microsoft logo at Microsoft offices in Issy-les-Moulineaux near Paris, France, January 25, 2023. Microsoft said Ubisoft would acquire the rights through a one-off payment and a market-based wholesale pricing mechanism, including an option that supports pricing based on usage.

Persons: Tom Smith, there's, Gonzalo Fuentes, Alex Haffner, Fladgate, Sarah Cardell, Yadarisa, Kate Holton, Foo Yun Chee, Barbara Lewis, Sharon Singleton, Mark Potter Organizations: CMA, Microsoft, Activision, Ubisoft Deal, Ubisoft Entertainment, Ubisoft, Markets Authority, European Commission, Geradin Partners, Big Tech, Reuters, REUTERS, European Union . Competition, Federal Trade Commission, European, European Union, Sony, U.S, Thomson Locations: New York, Paris, U.S, Europe, Brussels, EU, Issy, France, British, United States, Bengaluru, London

Britain's Competition and Markets Authority (CMA) is the only regulator to block Microsoft's $69 billion Activision deal, in a test of its post-Brexit clout. The CMA in a statement said the revised transaction would "allow Ubisoft to commercialise these rights to other cloud gaming services providers (including to Microsoft itself)". Under the new terms, Microsoft will not be able to release Activision Blizzard games exclusively on its own cloud streaming service — Xbox Cloud Gaming – or to exclusively control the licensing terms of Activision Blizzard games for rival services. The new transaction deals with streaming rights outside the European Economic Area, reflecting the fact that Brussels had already approved the deal. Ubisoft will, however, receive a non-exclusive licence for Activision's European gaming rights too, enabling the French group to also stream the rights in the EU.

Persons: Yadarisa, Kate Holton, Rashmi Aich, Sachin Ravikumar, Barbara Lewis Organizations: CMA, Activision, Ubisoft Deal, Microsoft, Ubisoft Entertainment, Britain's, Markets Authority, Ubisoft, European Union, Sony, U.S, Activision Blizzard, Economic, Activision's, Thomson Locations: Paris, British, Brussels, Bengaluru, London

☆ Amazon offers concessions to UK antitrust watchdog as part of probe into its marketplace practices
▼ + stars: | 2023-07-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Amazon on Wednesday offered commitments to the U.K. Competition and Markets Authority after Britain's competition watchdog raised concerns about the U.S. e-commerce giant's treatment of third-party sellers. One of those commitments proposes to ensure Amazon does not use rival sellers' marketplace data to gain an unfair advantage over other sellers. Amazon's commitments also proposed to guarantee all product offers are treated equally when the company decides which ones will be featured in the "Buy Box." Amazon's marketplace practices were also concerning to European Union regulators that were probing similar issues to the U.K. since 2019. In December, Amazon offered similar commitments to the European Commission, the EU's executive arm, to address its concerns.

Persons: Porte, Amazon, Ann Pope Organizations: Porte de, Amazon, U.K, Competition, Markets, CMA, Union, European Commission, Politico, Federal Trade Commission Locations: Paris, U.S

☆ Microsoft-Activision deal back in hands of UK regulator after court pauses appeal
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 21 (Reuters) - Microsoft's Activision Blizzard deal is back in the hands of Britain's antitrust regulator after an appeals court granted an adjournment, and the grounds for why the UK should reconsider its block on the U.S. software giant's takeover were published. The Competition and Markets Authority (CMA) set out on Friday Microsoft's arguments for the reconsideration, as the U.S. battles to win UK approval to buy "Call of Duty" maker Activision. Explaining why the deal should now be given the green light, Microsoft argued that the binding commitments accepted by the European Union shortly after Britain had blocked the deal changed matters, court documents published showed. The CMA said it understood that Microsoft considered the recent licensing deal it agreed with Sony constituted a further material change of circumstance or special reason. Britain's Competition Appeal Tribunal provisionally approved the adjournment on Monday subject to further submissions from the parties.

Persons: Candy, Sarah Young, Paul Sandle, Sam Tobin, Alistair Smout, Louise Heavens Organizations: Microsoft's Activision, Markets Authority, Activision, CMA, Microsoft, European Union, NVIDIA, Boosteroid, Sony, Thomson Locations: U.S, European, Britain

☆ British retail sales beat expectations in June
▼ + stars: | 2023-07-21 | by ( David Milliken | ) www.reuters.com time to read: +2 min

LONDON, July 21 (Reuters) - British retail sales rose more than expected in June, boosted by unusually hot weather and a rebound in food sales after a dip the month before when public holidays disrupted normal spending patterns, official figures showed on Friday. Retail sales volumes in June were 0.7% higher than in May, the Office for National Statistics said, a bigger increase than the 0.2% forecast by economists in a Reuters poll. Sales volumes were 1.0% lower than a year earlier, beating economists' forecasts for a 1.5% decline. "Retail sales grew strongly, with food sales bouncing back from the effects of the extra bank holiday, partly helped by good weather, and department stores and furniture shops also having a strong month," ONS chief economist Grant Fitzner said. The ONS data showed a 7.8% annual rise in the value of retail sales excluding fuel.

Persons: Grant Fitzner, King Charles ', Sterling, David Milliken, Kate Holton, Andrew Heavens Organizations: National Statistics, U.S, Industry, British Retail Consortium, Thomson

☆ Broadcom's $69 bln VMware deal wins provisional UK clearance
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +2 min

[1/2] 3D printed clouds and figurines are seen in front of the VMware cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/IllustrationLONDON, July 19 (Reuters) - Britain's competition regulator provisionally cleared U.S. tech company Broadcom's (AVGO.O) $69 billion purchase of VMware (VMW.N) on Wednesday, saying the deal would not weaken competition in the supply of critical computer server products. The proposed deal has highlighted chipmaker Broadcom's aim to diversify into enterprise software, but comes as regulators worldwide ramp up scrutiny of deals by Big Tech. Broadcom welcomed the unconditional approval, saying it expects to close the deal in the current fiscal year. The $69 billion deal, consisting of $61 billion in equity and the rest in debt, is also being examined by U.S. Federal Trade Commission.

Persons: Dado Ruvic, Muvija M, Paul Sandle, William James, Jane Merriman Organizations: VMware, REUTERS, Broadcom's, Union, Broadcom, CMA, Big Tech, U.S . Federal Trade Commission, Activision, Thomson Locations: British

☆ Buffett cut Activision stake before judge approved Microsoft merger
▼ + stars: | 2023-07-17 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

In a regulatory filing on Monday, Berkshire said it owned about 14.7 million Activision shares, or 1.9%, worth $1.24 billion on June 30, down from 49.4 million shares, or 6.3%, on March 31. The filing did not discuss the prices of any sales, or whether Berkshire bought or sold Activision stock in July. One of Berkshire's portfolio managers invested in Activision in late 2021, with Buffett boosting the stake to nearly 10% in 2022. Berkshire's remaining Activision stake - 14,658,121 shares - is exactly the size it was before Buffett started buying, suggesting that he has exited the arbitrage bet. Activision shares rose 10% to $90.99 on July 11 after U.S. District Judge Jacqueline Scott Corley in San Francisco rejected U.S. Federal Trade Commission arguments that the merger would hurt competition in cloud gaming, consoles and subscription services.

Persons: Warren Buffett's Berkshire Hathaway, Buffett, Jacqueline Scott Corley, Jonathan Stempel, Matthew Lewis Organizations: Activision Blizzard, Microsoft, Activision, Berkshire, Buffett, U.S, Federal, Commission, Markets Authority, BNSF, Apple, Bank of America, Thomson Locations: Berkshire, San Francisco, Omaha , Nebraska, New York

☆ Microsoft, UK ask for two-month pause of appeal over Activision deal
▼ + stars: | 2023-07-17 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

Britain's competition regulator, the Competition and Markets Authority (CMA), in April became the first major regulator to block the acquisition of the "Call of Duty" maker, citing concerns about the impact on competition in cloud gaming. The U.S. Federal Trade Commission (FTC) has also opposed the tie-up, but suffered a major defeat last week when a federal court rejected the FTC's application to temporarily halt the deal. Companies cannot offer remedies after its publication and their only recourse is to the Competition Appeal Tribunal (CAT). But last week, less than an hour after a U.S. federal court ruled the deal could go ahead, the CMA said it could look again at a modified proposal. The judge also asked whether the FTC's initial defeat in the U.S. had been taken into consideration by the CMA.

Persons: Marcus Smith, Sam Tobin, Josie Kao Organizations: Microsoft, Monday, Activision Blizzard, Markets Authority, U.S . Federal Trade Commission, CMA, CAT, Thomson Locations: London, Britain, U.S

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