Jeremy Hunt has advised competitors chiefs that they need to “perceive their wider obligations” after the regulator was attacked by Microsoft for blocking a gaming mega-merger.
The Chancellor insisted that he didn’t wish to undermine the independence of the Competitors and Markets Authority (CMA), however stated regulators additionally wanted to give attention to encouraging funding.
Microsoft and Activision have accused the UK of discouraging investment after the CMA blocked Microsoft’s $69bn (£55bn) takeover of Activision, the video video games large behind Name of Responsibility.
Talking on the British Chambers of Commerce annual convention on Wednesday, Mr Hunt stated: “In terms of Microsoft, there was a merger between two American firms that the US regulator is looking for to dam, and the UK regulator took the identical view.
“I feel one of many causes that firms like Microsoft and Google wish to put money into the UK is as a result of we’ve got unbiased regulators that aren’t managed by politicians and due to this fact they are often assured there will probably be a degree taking part in discipline.
“I might not wish to undermine that in any respect, however I do suppose it’s essential all our regulators perceive their wider obligations for financial progress.
“However for our tech sector, it isn’t nearly with the ability to get by way of large offers, competitors actually issues.”
The feedback are the primary Mr Hunt has made on the blocked takeover bid.
