LONDON (ShareCast) - (Sharecast News) - Microsoft's $13.0bn tie-up with OpenAI has been cleared by the UK's Competition and Markets Authority, with the watchdog stating the investment didn't meet the threshold for a full-scale merger investigation.
The CMA stated that while Microsoft gained "material influence" over OpenAI through its initial 2019 investment, it said the tech behemoth had not acquired "de facto control". As a result, the deal did not qualify for review under UK merger laws.

However, the UK regulator highlighted that its decision did not mean that there were competition concerns regarding the partnership.

Microsoft said: "Our partnership with OpenAI promotes competition, innovation and responsible AI development. We welcome the CMA's conclusion, after careful and prudent consideration, to close its investigation".

As of 1535 GMT, Microsoft shares were up 0.91% at $392.15 each.











Reporting by Iain Gilbert at Sharecast.com

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