Home Technology Activision stock falls after report of ‘likely’ FTC antitrust lawsuit against Microsoft acquisition

Activision stock falls after report of ‘likely’ FTC antitrust lawsuit against Microsoft acquisition

by News Desk
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Activision Blizzard Inc. ATVI,
+0.94%
Shares fell in after-hours trading on Wednesday after reports that the Federal Trade Commission is likely to launch an antitrust lawsuit to block Microsoft’s acquisition of the video game publisher.
+1.04%
Politico reported late Wednesday FTC staffers are skeptical of the companies’ claims that the $69 billion acquisition will not unfairly profit Microsoft in the video game market, but the commissioner has yet to vote on the lawsuit. Microsoft makes the Xbox video game console, prompting concerns that it might dedicate some of Activision’s most popular games (such as the “Call of Duty” franchise) to its platform, prompting rival Sony Group. Locked out his 6758 of Corp.
+2.14%
PlayStation. A Microsoft spokesperson told his Politico that the company is “ready to address the concerns of regulators, including the FTC, and Sony, so that they can enter into a deal with confidence.” Activision’s stock fell 4.5% in after-hours trading, while Microsoft’s stock rose slightly.

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