It was anticipated that the European Union and their market regulator could raise a flag as reportedly, Microsoft did not commit on specific issues that could arise if it was allowed to buy Activision Blizzard and here is the development.

The EU Commission that is revising Microsoft’s transaction to buy gaming conglomerate Activision Blizzard, has announced that it has activated the in-depth investigation status of the process, meaning further scrutiny and Microsoft unable to close the transaction.

The Commission justified going in-depth investigation because it’s “concerned that the proposed acquisition may reduce competition in the markets for the distribution of console and PC games, mainly, its access to block certain games from Xbox competitors for competitive advances.

The new step in the process stipulates that the Commission will have 90 days, which ends on March 23th, 2023 (ironic isn't it?), to have a decision.

Microsoft of course responded

So far, the United Kingdom and EU are the only two big markets that have raised concern and Microsoft did have some breath with Saudi Arabia and Brazil markets giving their approval and finally, FTC has not pronounced yet and it is speculated that an official statement is due anytime now.