Looks like the CMA just got a lot more power? I don’t really think that’s a good thing.
They'll have nothing to say about Sony/Kadokawa. And if they do, I'll be there to expose every hypocritical flaw they come up with.
They were working on this for a while but the timing of having this granted after a certain massive $75 billion M&A is certainly "convenient". Like others are saying, if the CMA suddenly start conjuring frivolous reasons to block certain M&As, companies will just skip the UK market altogether, which hurts their GDP and economy, not to mention UK citizenry.
Again, this won't have much impact on the M&A
this thread is discussing, but it could be a blemish on future ones depending on how the CMA choose to implement these new powers. If they're "conveniently" selective, rather than being earnest and fair across the board, it'll get them in a lot of hot water and be the end of them.
Personally I have little respect for the CMA after they started shucking & jiving for Microsoft in the 11th hour of the ABK acquisition; the sudden 180-degree turn and complete dissolving of the principals they stood up through most of their time on that M&A was just shocking and appalling to me. If they can "suddenly" find the heart to let M&As that massive be approved, much smaller ones should have no issue.
I also think their choices with the ABK deal will bite them in the ass as Apple, Google, Amazon etc. challenge the CMA in the future if CMA block certain M&As they want to do, pointing to the ABK acquisition as their evidence. That's what happens when you compromise your core values out of thin air