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☆ British regulators will soon announce competition remedies for the multibillion-pound cloud industry
▼ + stars: | 2024-11-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Igor Golovniov | Sopa Images | Lightrocket via Getty ImagesLONDON — Britain's competition regulator is preparing remedies aimed at solving competition issues in the multibillion-pound cloud computing industry. The sources, who preferred to remain anonymous given the investigation's sensitive nature, said that the cloud market remedies could be announced within the next two weeks. Amazon is the largest player in the market, offering cloud services via its Amazon Web Services (AWS) arm. Ofcom subsequently referred its cloud review to the CMA to address competition issues in the market. She is expected to outline plans for a review in 2025 into whether the CMA should more frequently use behavioral remedies when approving deals, the FT reported.

Persons: Igor Golovniov, there's, Sarah Cardell, Keir Starmer Organizations: Ofcom, Microsoft, Getty, Markets, CNBC, CMA, Amazon, Web Services, Google, Chatham House, Financial Times Locations: U.S, U.K

☆ Oasis tickets: Ticketmaster probed in the UK over concert sales
▼ + stars: | 2024-09-05 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Britain’s competition watchdog is investigating Ticketmaster over concerns the company treated customers unfairly when selling tickets to the upcoming Oasis reunion tour. The authority will also consider whether people were pressured to buy tickets quickly at a higher price than they understood they would have to pay. One individual posted on X that he had waited five hours to buy tickets only to receive a message that read: “Your session has been suspended.”Fans should be “treated fairly” when buying tickets, CMA CEO Sarah Cardell said in Thursday’s statement. Ticketmaster faced public scrutiny in November 2022 for its handling of the massively popular Taylor Swift Eras Tour. It was also caught in controversy after a blunder relating to sales of tickets for a concert to celebrate the ascension of King Charles to the British throne.

Persons: London CNN —, Sarah Cardell, Taylor, King Charles Organizations: London CNN, Ticketmaster, Markets, CMA, Digital Markets, Competition, Consumers, ”, CNN Locations: United States

NEW ORLEANS (AP) — A man who shot former New Orleans Saints star Will Smith following a traffic crash nearly eight years ago has been convicted of manslaughter. The jury acquitted Hayes of attempted manslaughter in the shooting and wounding of Smith's wife during the April 2016 confrontation. Hayes, 36, had previously been convicted in December 2016 of manslaughter in Smith’s death and attempted manslaughter for the gunshot wounding of Racquel Smith. The city's top prosecutor insisted during his closing argument that Hayes fired needlessly. But there was no witness or forensic evidence to back up Hayes’ claim that Smith had wielded or fired a weapon.

Persons: Will Smith, Cardell Hayes, Hayes, Smith's, Racquel Smith, Jason Williams, Smith, Smith’s, John Fuller, Fuller, ’ ”, Hurricane Katrina Organizations: ORLEANS, New, New Orleans Saints, U.S, Supreme, Prosecutors, Saints Locations: New Orleans, ”

☆ 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

NEW ORLEANS (AP) — A retrial was set to begin Monday for the man who fatally shot retired New Orleans Saints star Will Smith almost eight years ago. Cardell Hayes, 36, has long insisted he shot Smith in self-defense during an April 2016 confrontation after a car crash. Smith died and his wife, Racquel Smith, was wounded by gunfire. But there was no witness or forensic evidence to back up Hayes’ claim that Smith had wielded or fired a weapon. Political Cartoons View All 253 ImagesHayes' retrial has been delayed multiple times for a variety of reasons, including the COVID-19 pandemic.

Persons: —, Will Smith, Cardell Hayes, Smith, Racquel Smith, Hayes, Hurricane Katrina Organizations: ORLEANS, New Orleans Saints, U.S, Supreme, Saints Locations: New Orleans

☆ UK antitrust regulator wins appeal over Apple probe
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar Acquire Licensing RightsLONDON, Nov 30 (Reuters) - Britain's antitrust regulator can investigate Apple's (AAPL.O) mobile browser and cloud gaming services, London's Court of Appeal ruled on Thursday, overturning a lower court decision the watchdog said could undermine its power to launch probes. The Competition and Markets Authority (CMA) opened a full investigation last year into the dominance of Apple and Alphabet Inc's Google (GOOGL.O) in mobile browsers. The Competition Appeal Tribunal (CAT) ruled in Apple's favour in March, but the Court of Appeal upheld the CMA's appeal on Thursday. The CMA said its investigation is on hold pending any application for permission to appeal to the Supreme Court.

Persons: Mike Segar, Judge Nicholas Green, Green, Sarah Cardell, Sam Tobin, Michael Holden, Jane Merriman Organizations: Apple Inc, Apple, REUTERS, London's, Markets Authority, CMA, Google, CAT, Supreme, Thomson Locations: Manhattan , New York, U.S, Apple's

☆ UK proposes changes to antitrust assessment after Microsoft-Activision case
▼ + stars: | 2023-11-20 | by ( Paul Sandle | ) www.reuters.com time to read: +2 min

CMA panel chair Martin Coleman said under the proposals, the merging parties would have an opportunity to make representations after seeing the full version of the case against in an interim report. "Throughout the process it will be open to merger parties to discuss remedies with the group at an early stage if they so wish." By introducing a number of prompts for merging parties to consider without prejudice," she said. She said that the agency's strong preference for structural remedies remained and added that changes would only succeed if merging parties engaged in good faith. Reporting by Paul Sandle and Muvija M, writing by Sarah Young, editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

Persons: Martin Coleman, Sarah Cardell, We've, Paul Sandle, Sarah Young, William James Our Organizations: Microsoft, Activision, Markets Authority, European Union, CMA, Thomson Locations: Britain

The deal was the biggest test of the CMA's global power to take on the tech giants since Britain left the European Union. "The new deal will stop Microsoft from locking up competition in cloud gaming as this market takes off, preserving competitive prices and services for UK cloud gaming customers," it said in a statement. Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. Activision Blizzard said: "The CMA's official approval is great news for our future with Microsoft, and we look forward to becoming part of the Xbox Team." The European Commission said the new commitments given by Microsoft to the CMA did not interfere with its EU commitments.

Persons: Dado Ruvic, Jeremy Hunt, Sarah Cardell, Ben Barringer, Brad Smith, Activision Blizzard, Paul Sandle, Yadarisa Shabong, Aditya Soni, Foo Yun Chee, Varun H, Kate Holton, Sonali Paul, Jane Merriman, Sherry Jacob, Phillips Organizations: CMA, Microsoft, LONDON, Activision Blizzard, Sony, Activision, Competition, Markets Authority, Ubisoft Entertainment, Britain, European Union, PlayStation, U.S . Federal Trade Commission, FTC, REUTERS, British, Finance, Xbox, European Commission, Thomson Locations: Britain, Cheviot, London, Bengaluru, Foo

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. The deal was blocked in April by the Competition and Markets Authority (CMA) which said it could give the U.S. computing giant a stranglehold over the nascent cloud gaming market. The deal was the biggest test of the CMA's global power to take on the tech giants since Britain left the European Union. "The new deal will stop Microsoft from locking up competition in cloud gaming as this market takes off, preserving competitive prices and services for UK cloud gaming customers," it said in a statement. The U.S. Federal Trade Commission opposed the deal but after failing to stop it, the CMA was left standing alone.

Persons: Dado Ruvic, Jeremy Hunt, Sarah Cardell, Ben Barringer, Brad Smith, Activision Blizzard, Paul Sandle, Yadarisa, Foo Yun Chee, Varun H, Kate Holton, Sonali Paul, Jane Merriman Organizations: Microsoft, Activision, REUTERS, CMA, LONDON, Activision Blizzard, Competition, Markets Authority, Ubisoft Entertainment, Britain, European Union, PlayStation, Sony, U.S . Federal Trade Commission, FTC, British, Finance, Xbox, European Commission, Thomson Locations: Britain, Cheviot, London, Bengaluru, Foo

Plus, it will be “productive for the gaming industry as a whole and healthy for competition in the gaming market,” he said. In the meantime, the U.K. regulator was the last major obstacle to the transaction going through. British regulators had initially blocked the transaction over concerns Microsoft could withhold Activision titles from the cloud gaming market. One factor was the EU’s approval, granted after Microsoft promised to automatically license Activision titles royalty-free to cloud gaming platforms. But the CMA's flip-flopping makes the U.K. regulator look “weak and indecisive,” he said.

Persons: Activision Blizzard, Candy, Overwatch —, Brad Smith, Bobby Kotick, Joshua Chapman, ”, Sarah Cardell, Max von Thun, ” von Thun, Matt O’Brien Organizations: —, Activision, Markets, Microsoft, Xbox, Union, Sony, U.S . Federal Trade Commission, FTC, Ubisoft Entertainment, U.K, PlayStation, European Commission, Open Markets, CMA, AP Locations: Konvoy, U.K, Europe, Providence , Rhode Island

☆ Microsoft's $69 billion Activision Blizzard takeover approved by UK, clearing way for deal to close
▼ + stars: | 2023-10-13 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

The Competition and Markets Authority said it had cleared the deal for Microsoft to buy Activision but without cloud gaming rights. Microsoft offered a spate of concessions, which centered around divesting the cloud rights of Activision games to French game publisher Ubisoft Entertainment. The U.K.'s regulatory U-turnRegulators globally were concerned that the takeover would reduce competition in the gaming market, in particular around cloud gaming. Meanwhile, in the U.S., the Federal Trade Commission was fighting a legal battle with Microsoft in an effort to get the Activision takeover scrapped. "As cloud gaming grows, this intervention will ensure people get more competitive prices, better services and more choice.

Persons: Dado Ruvic, we've, Sarah Cardell, Cardell Organizations: Activision, Markets Authority, Microsoft, CMA, Ubisoft Entertainment, Ubisoft, Netflix, Reuters, Authorities, European Union, EU, Federal Trade Commission, Activision PC Locations: U.S, Europe, U.K

☆ Microsoft, Amazon facing UK antitrust probe over cloud serivces
▼ + stars: | 2023-10-05 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Microsoft and Amazon could be in hot water over apparently making it difficult for UK customers to use multiple suppliers of vital cloud services. The Competition and Markets Authority (CMA), the country’s antitrust regulator, said Thursday it was launching an investigation into the UK cloud infrastructure services market to determine whether players were engaged in anti-competitive practices. This “cloud infrastructure” forms the foundation for how software applications, such as Gmail and Dropbox, are developed and run. According to Ofcom, last year Microsoft and AWS had a combined market share of 70-80% in the UK cloud infrastructure services market. The report also raised concerns about the software licensing practices of some cloud providers, particularly Microsoft.

Persons: Sarah Cardell Organizations: London CNN, Microsoft, Markets Authority, Amazon Web Services, CMA, Ofcom, European Digital Services, Amazon, Apple, Google, Facebook, AWS Locations: United Kingdom

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's $68.7 billion Activision acquisition clears key hurdle after UK regulator provisionally approves deal
▼ + stars: | 2023-09-22 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

The CMA provisionally greenlit Microsoft's acquisition of the "Call of Duty" developer. It comes after a lengthy period in which the deal was threatened because of competition concerns. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The CMA will conduct a consultation until October 6, before the acquisition agreement expires on October 18. Activision said in a statement issued to Insider, "The CMA's preliminary approval is great news for our future with Microsoft."

Persons: Activision Blizzard, Sarah Cardell, Brad Smith, We're Organizations: Microsoft, Activision Blizzard, CMA, Service, Activision, Markets, Ubisoft, Cloud Gaming Locations: Wall, Silicon

LONDON (AP) — British competition regulators gave preliminary approval Friday to Microsoft’s restructured $69 billion deal to buy video game maker Activision Blizzard, easing a final global hurdle that paves the way for one of the largest tech transactions in history to go through. The updated offer “opens the door to the deal being cleared,” the watchdog said, though there are lingering concerns. “The CMA’s position has been consistent throughout — this merger could only go ahead if competition, innovation and choice in cloud gaming was preserved," CEO Sarah Cardell said. Crucially, it got a thumbs-up from the 27-nation European Union after agreeing to allow users and cloud gaming platforms to stream its titles without paying royalties for 10 years. The CMA then put its original decision on hold and opened a new investigation into the revamped proposal.

Persons: Sarah Cardell, “, Brad Smith, ”, Bobby Kotick Organizations: Microsoft’s, Activision, The, Markets Authority, Microsoft, Union, U.S . Federal Trade Commission, CMA, Ubisoft Entertainment Locations: British, U.S, Britain

☆ UK focuses on transparency and access with new AI principles
▼ + stars: | 2023-09-18 | by ( Paul Sandle | ) www.reuters.com time to read: +2 min

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken June 23, 2023. Britain's anti-trust regulator, the Competition and Markets Authority (CMA), is, like other authorities around the world, trying to control some of the potential negative consequences of AI without stifling innovation. The CMA's proposed principles, which come six weeks before Britain hosts a global AI safety summit, will underpin its approach to AI when it assumes new powers in the coming months to oversee digital markets. It said it would now seek views from leading AI developers such as Google, Meta, OpenAI, Microsoft, NVIDIA and Anthropic, as well as governments, academics and other regulators. Reporting by Paul Sandle and Sarah Young, Editing by Kylie MacLellan and David EvansOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Sarah Cardell, Paul Sandle, Sarah Young, Kylie MacLellan, David Evans Organizations: REUTERS, Google, Microsoft LONDON, Markets Authority, CMA, Britain, Microsoft, NVIDIA, Thomson Locations: Britain, United States

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

☆ Microsoft Offers British Regulators Changes to Activision Deal
▼ + stars: | 2023-08-22 | by ( Adam Satariano | More About Adam Satariano | ) www.nytimes.com time to read: +2 min

Why It Matters: The offer aims to address concerns over cloud gaming. Under the new terms, Microsoft will give Ubisoft control over licensing deals for cloud gaming services for 15 years. This is aimed at preventing Microsoft from launching titles exclusively on its own cloud streaming service, called Xbox Cloud Gaming. But Microsoft scored a major victory in May, when the European Union approved the deal. The British regulator said it would issue a decision by Oct. 18, the date that Microsoft has set as a deadline to complete its deal with Activision.

Persons: Microsoft’s, Sarah Cardell, ” Organizations: Markets Authority, Microsoft, Ubisoft, Cloud Gaming, Activision, Sony, U.S . Federal Trade Commission, European Union Locations: U.S

☆ UK Competition and Markets Authority on renewed interest in Microsoft's $69B deal for Activision
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUK Competition and Markets Authority on renewed interest in Microsoft's $69B deal for ActivisionSarah Cardell, Chief Executive of the Competition and Markets Authority, discusses the UK's decision to take a fresh look at Microsoft's proposed deal to buy Activision Blizzard.

Persons: Activision Sarah Cardell, Microsoft's Organizations: Markets Authority, Activision, Competition, Activision Blizzard

☆ Microsoft says it will sell Activision streaming rights to Ubisoft to unblock its takeover bid
▼ + stars: | 2023-08-22 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Microsoft has restructured its deal to hand Activision cloud gaming rights to rival Ubisoft. Microsoft really wants to get its takeover of Activision Blizzard over the line. The tech giant has substantially restructured its deal to try and appease the UK regulator's concerns that a takeover would hurt competition in cloud gaming. The new deal involves selling Activision cloud-gaming rights for countries outside the European Economic Area to video-game publisher Ubisoft. Microsoft announced its intent to acquire Activision Blizzard for $68.7 billion in January 2022, but the deal has been entangled in competition concerns ever since.

Persons: Sarah Cardell, Brad Smith Organizations: Microsoft, Activision, Ubisoft, Morning, Activision Blizzard, Economic Area, Cloud Gaming, European Commission, Markets Authority, CMA Locations: British

☆ Microsoft gives ground on streaming in bid to remove UK block on Activision deal
▼ + stars: | 2023-08-22 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

London CNN —Microsoft has made a major concession to UK authorities in a bid to remove the last remaining regulatory obstacle to its huge takeover of Activision Blizzard. The restructured deal, announced by the UK Competition and Markets Authority Tuesday, follows a decision by the CMA to block the acquisition on its original terms. A US federal court also said in July that it would not block the deal from closing. The transaction was valued at $69 billion at the time, making it one of the tech industry’s largest deals. Activision Blizzard is one of the world’s biggest video game developers, producing games such as “Candy Crush,” “Call of Duty,” “World of Warcraft” and “Overwatch.”

Persons: Sarah Cardell, ” Cardell, Candy, ” Organizations: London CNN, Microsoft, Activision Blizzard, European Union, Ubisoft Entertainment, UK Competition, Markets, CMA, Ubisoft —, Economic, Ubisoft, Activision Locations: United Kingdom, Paris

☆ UK antitrust regulator: We await new Microsoft proposal on Activision deal
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 20 (Reuters) - Britain's antitrust regulator is waiting for Microsoft to submit a modified deal structure to buy "Call of Duty" maker Activision Blizzard, its boss Sarah Cardell said on Thursday. "We understand from Microsoft that they would like to put forward proposals to us to restructure the deal, potentially re-notifying that deal, to address our competition concerns," she told Sky News. The Competition and Markets Authority (CMA) blocked the $69 billion deal in April over concerns about its impact on competition in the cloud gaming market. Cardell said any new proposal put forward by Microsoft would "need to fully and comprehensively resolve our concerns". Reporting by Paul Sandle; editing by Sarah Young and Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

Persons: Sarah Cardell, Cardell, Paul Sandle, Sarah Young, Kate Holton Organizations: Microsoft, Activision Blizzard, Sky News, Markets Authority, U.S, FTC, CMA, Thomson

☆ UK's CMA open to new Microsoft-Activision probe after u-turn
▼ + stars: | 2023-07-12 | by ( Paul Sandle | ) www.reuters.com time to read: +3 min

"It is really an unprecedented and dramatic turn of events," said Alex Haffner, competition partner at UK law firm Fladgate. Becket McGrath, a partner at Euclid Law, said it seemed like the CMA wanted a way out of an "uncomfortable position". Still, with the larger $69 billion deal back on track, the two sides are now focused on modifying the deal to obtain regulatory approval. Jonathan Compton, partner at law firm DMH Stallard and a specialist in competition law, said it was difficult to see what structural alterations the company could make. Britain's competition regulator has not given any further clarification on its U-turn or the new investigation, including whether it would fit into its Phase 1 and 2 process, the latter of which can take up to a year.

Persons: Alex Haffner, Becket McGrath, Jonathan Compton, DMH, Euclid's McGrath, Sarah Cardell, Paul Sandle, Muvija, Martin Coulter, Amy, Jo Crowley, Kate Holton Organizations: Microsoft, Activision, Markets Authority, CMA, European Union, Euclid Law, Thomson Locations: United States, Devika

☆ Vodafone and Three merger faces scrutiny from competition regulators
▼ + stars: | 2023-06-15 | by ( Paul Sandle | ) www.reuters.com time to read: +5 min

The $19 billion tie-up will be scrutinised by Britain's Competition and Markets Authority, the antitrust regulator which made global headlines in April when it blocked Microsoft's $69 billion acquisition of "Call of Duty" maker Activision Blizzard. The long-awaited mobile deal reduces the number of networks from four to three, challenging a tenet long held by regulators that four help to keep prices low in major markets. "The government's desire to make the UK a 5G powerhouse requires a lot of investment," he said. One London-based investment banker, who declined to be named, said he put the chance of the deal receiving the green light from regulators at 50%. A major telecoms investor said the deal could be approved, but only with strong remedies, and that could risk undermining its rationale.

Persons: CK Hutchison, Activision Blizzard, Hutchison, Paolo Pescatore, Peter Broadhurst, Moring, James Gray, Sarah Cardell, Robert Finnegan, Gray, Paul Sandle, Amy, Jo Crowley, Sinead Cruise, Kate Holton, Emelia Organizations: Microsoft, Activision, Hutchison, O2, Vodafone, CK, HK, Britain's Competition, Markets Authority, Ofcom, European Commission, Foresight, Hutchison's, UK plc, Victoria, Crowell, CMA, Reuters, National Security and Investment, Britain's, Tesco Mobile, Telefonica, Thomson Locations: Hong Kong, Britain, Europe, China, London, Germany

☆ UK regulators must understand need to promote growth, Hunt says
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +2 min

LONDON, May 17 (Reuters) - British regulators should understand the need to promote growth, finance minister Jeremy Hunt said on Wednesday when asked about the UK's antitrust watchdog's decision to block Microsoft's (MSFT.O) $69 billion acquisition of Activision (ATVI.O). "One of the reasons that companies like Microsoft and Google want to invest in the UK is because we have independent regulators that aren't controlled by politicians," Hunt told a business conference. "I would not want to undermine that at all, but I do think it's important all our regulators understand their wider responsibilities for economic growth." The European Union cleared the deal on Monday, accepting a practically identical set of remedies put forward by Microsoft that the CMA had rejected. Reporting by David Milliken and Sachin Ravikumar, writing by William James, editing by Paul SandleOur Standards: The Thomson Reuters Trust Principles.

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