December 6, 2023

Taylor Daily Press

Complete News World

Microsoft is close to acquiring Activision

Microsoft is close to acquiring Activision

Completing the acquisition of Activision (NASDAQ:) by Microsoft (NASDAQ:) is one step closer since last Friday. The British regulator, the Competition and Markets Authority (CMA), has seen concerns about the takeover diminish. Microsoft has modified the deal significantly. In the new proposal, Microsoft proposed that Activision sell cloud gaming rights to rival Ubisoft (EPA:). Microsoft submitted this amendment to the British regulatory body at the end of August.

The CMA noted that this is a new, significantly revised deal that could allay concerns about competitive advantages in the cloud gaming industry. The regulatory body will evaluate a number of details before final approval of the deal. The Capital Markets Authority has approved a consultation period in this regard that ends on October 6.

Microsoft shares closed 0.8 percent lower on Friday on this news, while Activision shares added 1.7 percent.

China is taking action

Investment in Chinese companies by overseas investors is likely to become easier. Bloomberg News made the announcement last Friday based on conversations with insiders. Currently, a single foreign shareholder may not own more than 10% of the shares of a Chinese company. In addition, the total ownership of shares in Chinese companies by non-Chinese investors is capped at 30 percent. It is not yet clear exactly what amendments will be implemented.

The planned relaxations will apply to stock exchanges in Shanghai, Beijing and Shenzhen. The primary purpose of this measure is to stimulate trade and make stock markets accessible to foreign investors.

China’s stock markets are clearly lagging behind other major stock exchanges around the world this year. This is mainly due to China’s disappointing economic recovery. Foreign investors have sold off Chinese stocks on a massive scale throughout 2023.

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The Chinese authorities have not yet responded to the Bloomberg News report. The measures were already implemented in August to stimulate stock trading. The tax on stock trading was also reduced from 0.1% to 0.05%.

Lockdown in the US?

The House of Representatives is scheduled to vote on four funding bills this week. It is the latest attempt to prevent the US government from partially shutting down after the September 30 deadline.

At this point, it’s unclear whether enough House Republicans will vote in favor of the rules, which must be finalized before the House can move forward on the funding bills themselves.

So far, disagreements between moderate Republicans and far-right Republicans have derailed efforts to pass legislation that would keep the government running. The new fiscal year will begin on October 1.

If the deal is not concluded in time, many federal government services will close their doors from October 1. It’s going to be exciting again this week.