2023-05-09 07:09:08
Berkshire Hathaway Chairman Warren Buffett criticized the British government for the decision of the CMA (Competition and Markets Authority) to block the deal.
Initially, it looked like the CMA would approve Activision Blizzard’s merger with Microsoft, but within weeks, the government body drastically reversed the decision. The CMA is concerned about how the merger will affect the “cloud gaming” market. This is surprising, given that so far the conversation has been about console exclusives.
Buffett, 92, made the comment during a recent earnings report for Berkshire Hathaway, the multinational conglomerate of which Buffett is chairman. He was asked about the merger due to Berkshire Hathaway’s “large stake” in Activision-Blizzard, which could be affected by the deal.
Buffett explained that he believes Microsoft is “willing to cooperate” with regulators and blames organizations such as the CMA for the potential failure of the deal. The statement ends with the words: “The British government is making a mistake.”
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