Why did Activision Blizzard stock go down today? Concern UK may oppose Microsoft deal (update)
Rich Polk/Getty Images Entertainment

Update 8pm: Adds Microsoft comment to NYT on UK antitrust review.Activision Blizzard (NASDAQ:ATVI) dropped 5% on a report that Microsoft's (NASDAQ:MSFT) legal team is said to expect the UK's antitrust authority may oppose its $69 billion videogame megadeal.
Microsoft's (MSFT) legal team expects the UK's Competition and Markets Authority will oppose its planned purchase of Activision (ATVI), according to a New York Times report on Saturday, which cited four people familiar with the matter. The European Commission may be amenable to potential remedies.
The NYT updated its story later on Monday to include that Microsoft (MSFT) said it believes it has a strong case in the UK and it has not "predetermined," nor been advised by its lawyers that the merger will be blocked.
The NYT report comes as the UK regulator is expected to publish its provisional findings on the transaction this week. The report also follows after Microsoft is said to have received a formal statement of objections from the European Union in regard to its planned $69 billion acquisition of Activision (ATVI) last week.
Earlier this month the UK antitrust watchdog's review of the transaction was extended to late April from early March. The UK'S CMA in September confirmed it was taking a deeper look at the Activision deal after Microsoft failed to assuage concerns about potential anticompetitive effects.
After the close on Monday Activision (ATVI) reported a Q4 beat on adj. EPS and net booking.
Activision rose 0.7% in after hours trading.