European gaming stocks up on Microsoft's 'crazy' acquisition of Activision

Paradox Interactive AB (publ)

18/01/2022 14:10

** European gaming stocks rise in afternoon trade after
Microsoft  MSFT.O  said it would buy "Call of Duty" videogame
maker Activision Blizzard  ATVI.O  for $68.7 billion in cash
    ** Shares in Ubisoft  UBIP.PA  rally 9%, while CD Projekt
 CDR.WA , Embracer  EMBRACb.ST , Frontier  FDEV.L , Paradox
 PDXI.ST ,  Rovio  ROVIO.HE  jump between 1% and 5% on the news
    ** Midcap Partners brands the largest yet deal in the sector
as "a crazy thing", adding that the big operations continue
following Zynga's  ZNGA.O  purchase by Take-Two  TTWO.O 
    ** "Is Ubisoft next on the list?," the brokerage adds

 (Reporting by Juliette Portala and Anna Pruchnicka)
 ((anna.pruchnicka@tr.com ; juliette.portala@tr.com))