They’ve helped snatch defeat out of the jaws of victory.
Britain’s bureaucrats have done it again. They’ve helped snatch defeat out of the jaws of victory.
The decision by Britain’s Competition and Markets Authority (CMA) to quash Microsoft Inc’s planned takeover of video game maker Activision Blizzard ATVI is just the latest fumble by the UK government. And together with a similar action by another British government agency, it could have a lasting and detrimental impact on the UK economy unless something changes soon. The action also trashes the Brexit promise of a more benign regulatory environment.
It is «probably the darkest day in our four decades in Britain,» Brad Smith, Microsoft’s president, told the BBC in an interview broadcast earlier today. «It does more than shake our confidence in the future of the opportunity to grow a technology business in Britain than we’ve ever confronted before.»
Even more insulting to the Brits he said that the European Union, typically viewed as as Bureaucratic mess from London, is a better place to do business. «There’s a clear message here — the European Union is a more attractive place to start a business than the United Kingdom,» Smith said.
