Microsoft’s $69 billion takeover of Activision Blizzard, suffered a hammer blow after Britain’s antitrust watchdog vetoed the gaming industry’s biggest ever deal, saying it would harm competition on the cloud. From a report:

The Competition and Markets Authority said its concerns couldn’t be solved by remedies such as the sale of blockbuster title Call of Duty or so-called behavioral remedies involving promises to permit rivals to offer the game on their platforms, according to a statement Wednesday. Pressure had been mounting on Microsoft as it lobbies at home and in Europe to convince watchdogs to clear the deal — one of the 30 biggest acquisitions of all time. Crucially, the CMA’s conclusions comes before decisions from the European Union and the US Federal Trade Commission, which is awaiting a hearing in the summer after formally suing to veto the transaction.