Microsoft-Activision Gets Sliver of Hope as EU Defies UK (1)

Microsoft Corp.’s $69 billion takeover bid for games developer Activision Blizzard Inc. came back from the brink after the European Union gave its blessing for one of the biggest deals in history.

In a decision diametrically opposed to findings by British and US antitrust authorities, EU regulators said on Monday that the transaction could actually boost competition and make the fledgling cloud-gaming market better.

But while EU competition chief Margrethe Vestager’s team has raised hopes in Redmond and Santa Monica — where Microsoft and Activision have their headquarters — the duo still face a formidable task convincing ...