The UK’s Competition Appeal Tribunal (CAT) has granted a two-month pause in the case between Microsoft and the Competition and Markets Authority.
The CMA is the only major regulator blocking Microsoft’s purchase of Activision Blizzard. The EU has signed off on the deal, and US courts have sided with Microsoft against the FTC’s concerns. Meanwhile, the CMA voted to block Microsoft’s deal, but both parties expressed a willingness to renegotiate in the wake of the FTC’s failed attempt.
According to Reuters, CAT has paused the hearing to give both parties time to come to a resolution. Meanwhile, one of the CMA’s attorneys told the outlet that the FTC’s defeat did not factor into the UK regulator’s decision to consider a deal.
“Based upon the discussion to date, both sides – Microsoft and the CMA – have confidence that Microsoft notifying a restructured transaction is capable of addressing the concerns that the CMA has identified,” said attorney David Bailey.
“The UK is the only impediment to closing (the deal) and speed is of the essence,” said Microsoft’s lawyer Daniel Beard.
With the CMA open to a deal, it looks like Microsoft’s Activision deal will likely move forward.