Microsoft’s $69 billion Activision deal in UK’s crosshairs

Microsoft Corp.’s planned $69 billion purchase of computer games developer Activision Blizzard Inc. faces an in-depth probe in the UK after regulators said the deal could hamper competition.

The Competition and Markets Authority said it decided to kickstart a longer review after Microsoft turned down the chance to offer remedies to address its concerns.

“Microsoft informed the CMA that it would not offer such undertakings,” the regulator said in its decision.

The move was expected after the CMA previously flagged concerns the deal could lead to a substantial lessening of competition in the gaming console, subscription and cloud markets. The regulator now has until March 1 to come to a final decision.