CMA Clears Last Hurdle for Microsoft/Activision Deal
Comment
UK regulators have approved Microsoft's $69bn acquisition of Activision Blizzard, which removes the last hurdle for the deal. However, the Competition and Markets Authority said the deal won't include cloud gaming rights and said in a statement today that, "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."
The deal was announced last year when Microsoft agreed to buy Activision Blizzard for $95 per share. However, the CMA announced its opposition in April this year. Microsoft then, in August, offered concessions to get the deal through. These ensured that Microsoft will not acquire cloud rights for existing Activision PC and console games, or for new games released over the next 15 years. These rights were conferred to Ubisoft Entertainment.
Sarah Cardell, chief executive of the CMA said that ""With the sale of Activision's cloud streaming rights to Ubisoft, we've made sure Microsoft can't have a stranglehold over this important and rapidly developing market. As cloud gaming grows, this intervention will ensure people get more competitive prices, better services and more choice. We are the only competition agency globally to have delivered this outcome."
Technical Analysis
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Microsoft's green 5-week EMA is looking to cross above its orange 10-week EMA (black ellipse). If successful, this will be a bullish development. The weekly RSI has pushed back above 50 (green rectangle). This is the bullish side of the indicator, suggesting a positive momentum.
If the RSI holds above 50, the EMAs should cross, putting them into a bullish formation.
Russell Shor
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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