Reuters edition informedthat the UK Competition Court (CAT) has approved the stay of Microsoft’s appeal to block a deal with Activision Blizzard in the country.
Recall that in April, the UK’s Competition and Markets Authority (CMA) banned Microsoft from acquiring Activision Blizzard over concerns about competition in the cloud gaming space. Microsoft’s appeal was due on July 28.
But just hours after the US court sided with Microsoft in a dispute with the US Federal Trade Commission (FTC), the CMA rushed to issue a pre-trial order expressing its willingness to negotiate with Microsoft.
The parties asked CAT for a two-month delay to allow the CMA to review Microsoft’s amended record deal proposal (estimated at $68.7 billion), while addressing regulators’ concerns.
Judge Marcus Smith has indicated he is prepared to adjourn the hearing scheduled for July 28 if the CMA presents a material change in circumstances or special reason warranting a motion for an adjournment.
In the meantime Bloomberg reports that Microsoft and UK regulators have done so “productive” Negotiations to resolve differences. Microsoft offering inspires CMA “True Confidence”that his fears would be allayed.
The deadline for signing the contract is July 18th. Microsoft must either close the contract before this deadline or agree on a new one with Activision Blizzard. Otherwise, the platform owner faces a $3 billion fine.