I got a subscription to Equity Report. ![](http://www.vgchartz.com/includes/tongue.gif)
They have 4 reports about the case in the last two months with interesting new info. I share now a summary of the most recent one and later in the day the other three.
CMA Likely to Publish Provisional Findings on Microsoft/Activision Blizzard Merger by Next Week | Equity Report
- Provisional findings (PF) from he CMA coming next week.
- The sources (two lawyers linked to the parties or third parties) say that MS is waiting the PF before offering remedies.
- The CMA is very hard to read at the moment and MS will probably learn about what's happening at the same time as everybody else.
- The outcome of the PF could depend on wether they include the ecosystem theory of harm or not.
- If the CMA blocks the deal, they'll need to back up its claims with substantive evidence from third parties to defend its position in a possible appeal.
- A third source, another lawyer linked to the case, believes that the deal shouldn't be opposed but that aligning remedies between the CMA and the EC will be a challenge because the CMA has a more formal approach and the EU process is more interactive.
- The same lawyer believes that the regulators' position about the case is a combination of the vocal opposition from a competitor (Sony) and some overreaction over the last ten years where vertical mergers have been constantly approved. "It's odd that it even got this far", he/she says.
- Sony may have been rejecting the offers from MS hoping to secure better licensing terms through a formal remedy agreement.
Source: Idas