European Union regulators on Monday granted approval for Microsoft's $69B acquisition of gaming giant Activision Blizzard.
The green light comes after the U.K.'s antitrust regulator blocked the deal last month, saying it could undermine competition in the cloud gaming market.
- In the EU, Microsoft's licensing deals with cloud streaming rivals were enough to appease regulators' concerns about reduced competition.
- The deals between Microsoft and rivals like Nintendo and Nvidia will allow users to stream Activision Blizzard games, including Call of Duty and World of Warcraft, on other platforms for 10 years.
- The European Commission considers the licensing deals "practical and effective" and "pro-competitive," according to EU antitrust chief Margrethe Vestager.
- The EU's approval could boost Microsoft's chances as the deal still faces antitrust challenges in the U.S. and the U.K.
- In the U.S., the Federal Trade Commission sued to block the takeover in late 2022. An evidentiary hearing for the case is scheduled for August 2.
- Microsoft's appeal against the U.K. regulator's decision remains ongoing.