It was only a matter of time. The attempt to block MS's purchase of ABK in the US and the UK was based on lunacy only. There was never a legitimate competition concern. The shocking part (to me at least) is that the Labour Party is doing this. Just tells me that they know the CMA screwed up real bad and is harming them with the business community.

Hoping for an FCC shake up soon!

LINK

quote:
Ministers have forced out the chair of the UK Competition and Markets Authority, as the government seeks to dial back regulation as part of Labour’s growth agenda.

The government confirmed the departure of Marcus Bokkerink as chair of the CMA on Tuesday evening, after the Financial Times reported that business secretary Jonathan Reynolds had intervened at the agency.

quote:
The Department for Business and Trade made clear to Bokkerink on Monday that it felt the regulator was not sufficiently focused on growth, according to one government figure.

Bokkerink, a former managing director at Boston Consulting Group, was appointed in 2022. CMA chairs can serve up to a five-year term.

They replaced him with a former head of Amazon in the UK, Doug Gurr.

quote:
The CMA came under intense criticism from Microsoft in 2023 for its handling of the technology giant’s acquisition of Activision Blizzard. The agency ultimately approved the deal between the two US-based businesses — after having initially sought to block it. Tom Smith, partner at law firm Geradin Partners and former CMA legal director, said Bokkerink’s replacement “came as a surprise” to competition lawyers. “Government seems to be sending a strong signal, especially about merger control,” he added. “It is tempting to say that now would be a good time to file a merger at the CMA.”

According to the article, 11 members of the 33-member merger panel are set to be replaced this year also. This move is a good sign that people who actually want competition will replace them.

This post was edited on 1/24/25 at 7:04 am