Activision CEO says CMA decision ‘far from final word’ on Microsoft deal

Activision Blizzard (ATVI) CEO Bobby Kotick sent an email to the team on Wednesday, stating in part: "Today, the Competition and Markets Authority, or CMA, a regulatory agency in the UK, decided not to approve our merger with Microsoft (MSFT). This isn’t the news we wanted – but it is far from the final word on this deal. Alongside Microsoft, we can and will contest this decision, and we’ve already begun the work to appeal to the UK Competition Appeals Tribunal. We’re confident in our case because the facts are on our side: this deal is good for competition… I’m going to do everything I personally can to advocate for us and help regulators understand the competitive dynamics in our industry. What gives me confidence is that, whether on our own or united with another company, we are one of the strongest companies in our industry, poised for continued growth, and building on our incredible IP." Reference Link