Microsoft's further acquisition of Activision Blizzard coincides with Warren Buffett's significant reduction in holdings of Activision Blizzard.
Microsoft's acquisition of Activision Blizzard has made new progress, as the UK Competition Appeal Court has paved the way for alternative solutions to the UK's veto. Meanwhile, Buffett has reduced his holdings in Activision Blizzard, with his stake plummeting from 6.7% in February to 1.9%.
In the midst of Microsoft's further acquisition of Activision Blizzard, on Monday, July 17th, media reports emerged that Buffett reduced his holdings in Activision Blizzard, with his stake dropping sharply from 6.7% in February to 1.9%.
On Monday, there was a new development in the acquisition case, which had previously faced many twists and turns. The UK Competition Appeal Tribunal paved the way for alternative solutions to the UK's veto.
During a hearing held in London on Monday, the UK Competition Appeal Tribunal stated that, following last week's unprecedented negotiations on remedial measures, it questioned whether the proposed ban by the UK regulatory agency could be "conditionally" suspended.
Both the Competition and Markets Authority (CMA) and Microsoft sought a suspension of the case, citing the CMA's unexpected openness to discussing new remedial measures last week.
Previously, the Federal Trade Commission (FTC) in the United States, which also attempted to block the acquisition, failed in its appeal.
After a week of dramatic events, including the FTC's failed appeal, Microsoft's 10-year licensing agreement with the rival group for "Call of Duty," the CMA has become the only regulatory agency hindering the completion of the transaction.
Although neither party has elaborated on the measures Microsoft has taken to win the support of the UK regulatory agency, a lawyer for the CMA stated during the hearing that the negotiations have been "productive."
The lawyer stated that Microsoft's proposal has made the relevant parties "truly believe" that their concerns can be addressed. The two companies are considering relinquishing partial control over their cloud gaming business in the UK in order to facilitate the completion of the transaction.