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The UK antitrust regulator has blocked Microsoft’s $69 billion purchase of Activision Blizzard, thwarting one of the tech industry’s biggest deals over concerns that it will stifle competition in the market for cloud gaming.
The Competition and Markets Authority said in a statement Wednesday that it was worried the deal would alter the future of the fast-growing cloud gaming market, leading to reduced innovation and less choice for UK gamers over the years to come.
The deal would make Microsof
(MSFT)t even stronger in cloud gaming, a market in which it holds a 60%-70% share globally, the regulator added.
Both companies plan to appeal the decision.
