UK chancellor wags his finger at CMA after Activision acquisition block, urging it to 'understand its wider responsibilities'

Jeremy Hunt, UK chancellor of the exchequer, speaks at the British Chambers of Commerce (BCC) Global Annual Conference 2023 in London, UK, on Wednesday, May 17, 2023. Bank of England Governor Andrew Bailey will deliver a keynote speech at the conference.

The UK government sure does seem to be a bit antsy about the Competition and Markets Authority's (CMA) decision to block Microsoft's acquisition of Activision Blizzard. Two days ago, a gaggle of MPs asked the market regulator if it had not, perhaps, been a bit shortsighted when it decided to stop the deal, and now Jeremy Hunt—the Chancellor of the Exchequer (equivalent to the US Treasury Secretary)—has stuck his oar in too (via The Telegraph).

To be fair, Hunt measured his words, emphasising the independence of the CMA and pointing out that the US Federal Trade Commission is trying to block the deal too. "When it comes to Microsoft," Hunt told the British Chambers of Commerce annual conference yesterday, "there was a merger between two American companies that the US regulator is seeking to block, and the UK regulator took the same view". He also said that he believed one of the reasons "companies like Microsoft and Google" want to invest in the UK is because it has "independent regulators that are not controlled by politicians".