The green light from the UK competition watchdog for Microsoft’s acquisition of Activision should prompt self-criticism all round.
green light from the UK competition watchdog for Microsoft’s US$69-billion takeover of games publisher Activision Blizzard should prompt some self-criticism all round.
Microsoft looked precisely like the kind of bullying dominant corporation we need tough regulators to challenge The journey to this resolution has been very ugly. First, the UK embarrassingly had to scale back its “provisional findings” where it detailed its opposition, staging a U-turn on earlier concerns about the impact on console gaming. That exposed failings in information gathering and modelling.Then the CMA block prompted Microsoft to act like a spoilt child that hadn’t got its own way, going way too far in its criticism and suggesting the UK was a bad place for tech investment.
The US firm then put forward a new deal, prompting the fresh merger investigation. Reviewing this second transaction may have been the pragmatic course. But it set a precedent for giving merging parties another bite of the cherry after what should already be an exhaustive investigation — a disincentive to making concessions earlier in the process.
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