Microsoft-Activision Deal Face More Regulatory Opposition, This Time From EU

The European Commission sent a formal list of concerns to Microsoft Corp MSFT about its proposed $69 billion takeover of Activision Blizzard Inc ATVI, marking an escalation in the regulatory body's probe of the deal.
The commission conducted an in-depth probe with a decision deadline of April 11, Bloomberg reports.
The statement of objections sets out potential reasons for blocking the deal pending forthcoming remedies.
The commission had concerns that Microsoft might "foreclose access to Activision Blizzard's console and PC video games, especially to high-profile and highly successful games" when it initiated the investigation last November.
A preliminary probe highlighted that the deal could "significantly reduce competition on the markets for the distribution of console and PC video games."
Microsoft's Activision takeover requires approval from 16 jurisdictions, with the U.S. Federal Trade Commission, the U.K.'s Competition and Markets Authority, and the European Commission representing the most significant hurdles.
In January, Alphabet Inc's GOOG GOOGL Google and Nvidia Corp NVDA shared concerns over the deal with the FTC, fueling regulatory worries.
Google and Nvidia joined Sony Group Corp SONY in raising issues with the $69 billion deal, which the FTC opposed in December.
Price Action: MSFT shares traded higher by 0.57% at $254.19 in the premarket on the last check Thursday.