UK regulator extends deadline for Microsoft-Activision probe by six weeks

LONDON — The U.K. competition regulator on Friday said it is extending the deadline for its review of Microsoft‘s takeover of video game publisher of Activision Blizzard by six weeks.

The extension will give the watchdog more time to review proposals by the two parties to resolve its concerns after it paused a campaign to block the deal.

“The Inquiry Group has decided to extend by six weeks … as it considers that there are special reasons to do so. The revised period will therefore end on 29 August 2023,” the U.K. Competition and Markets Authority said Friday.

The British regulator has been a stalwart opponent of Microsoft’s $69-billion purchase of Activision Blizzard, inclusively blocking the deal in April over competition concerns in the nascent cloud gaming market.

The CMA appeared to soften its tone earlier in the week, signaling it was ready to resume discussions with the Redmond tech titan.

“We stand ready to consider any proposals from Microsoft to restructure the transaction in a way that would address the concerns set out in our Final Report,” a CMA spokesperson told CNBC via email on Tuesday.

This is a breaking news item and will be updated shortly.