U.K. thwarts Microsoft's $69 billion bid for Activision Blizzard

 logos of Microsoft and Activision Blizzard
(Image credit: Anadolu Agency / Contributor/Getty Images)

Antitrust regulators in the United Kingdom blocked Microsoft's $69 billion acquisition of video game developer Activision Blizzard, impeding one of the tech industry's most significant deals "over concerns it will stifle competition in cloud gaming," CNN writes.

The U.K.'s Competition and Markets Authority said it was concerned the proposed deal would lead to "reduced innovation and less choice for U.K. gamers over the years to come." The regulator added that if Microsoft acquired Activision, it would make the tech giant "even stronger" in cloud gaming, an emerging market in which the company already has a 60-70 percent share of the global market.

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