Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Microsoft's president to push Activision deal at EU hearing; Google, Nvidia also present

Published 02/21/2023, 01:05 AM
Updated 02/21/2023, 05:26 AM
© Reuters. FILE PHOTO: Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. REUTERS/Dado Ruvic/Illustration

By Foo Yun Chee

BRUSSELS (Reuters) -Microsoft President Brad Smith on Tuesday will seek to convince EU antitrust regulators at a closed hearing that the U.S. software giant's $69 billion bid for "Call of Duty" maker Activision Blizzard (NASDAQ:ATVI) will boost competition.

Smith will lead a delegation of 18 senior executives, including Microsoft (NASDAQ:MSFT) Gaming Chief Executive Officer Phil Spencer, while Activision will be represented by its CEO Robert Kotick, a European Commission document seen by Reuters showed.

The hearing will allow Xbox maker Microsoft to gauge the mood among senior EU and national competition officials and European Commission lawyers ahead of the submission of remedies to address antitrust concerns.

"I think we will make clear that our acquisition of Activision Blizzard will bring more games to more people on more devices and platforms than ever before," Smith told reporters on his way to the hearing.

Microsoft was willing to address concerns with "Call of Duty" licensing offers similar to the 10-year deal with Nintendo and regulatory undertakings, Smith added, without providing any further details.

Microsoft announced the Activision acquisition in January last year to take on leaders Tencent and Sony (NYSE:SONY), but has run into regulatory headwinds in Europe, Britain and the United States.

Sony, which wants the deal to be blocked, sent its gaming chief Jim Ryan.

Alphabet (NASDAQ:GOOGL)'s Google and chip designer and computing firm Nvidia (NASDAQ:NVDA) Corp, which has a gaming business, also took part in the hearing.

"The European Commission asked for our views in the course of their inquiries into this issue. We will continue to cooperate in any processes, when requested, to ensure all views are considered," a Google spokesperson said.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Nvidia declined to comment. The European Games Developer Federation, which has said the deal will allow Microsoft to challenge Apple (NASDAQ:AAPL), Google and Tencent, is one of the participants.

Video game distributor Valve, video game publisher Electronic Arts (NASDAQ:EA) and the German competition watchdog and its peers in Belgium, the Czech Republic, Finland, France, Italy, Portugal, Spain and Sweden will also be taking part in the event.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.