Activision gains as UK judge says he will adjourn Microsoft case (update)
Rich Polk
Update 6:50pm: Adds Microsoft comment. 
Activision (NASDAQ:ATVI) rose 3.5% after a UK judge said the he will grant a conditional adjournment of the the UK antitrust regulator's suit to block the videogame giant's sale to Microsoft (NASDAQ:MSFT).
Judge Marcus Smith said that the Competition Appeal Tribunal will allow the UK Competition and Markets Authority challenge to the Activision (ATVI) sale to be paused while the sides work on a settlement with the regulator.
The UK ruling comes as the $95 per share purchase of Activision (ATVI) has a termination date of Tuesday, when the parties can decide to walk away, extend, or renegotiate the $95 per share purchase of the videogame giant. The UK is the last major regulator needed for Microsoft to close the $69 billion transaction. 
Microsoft (MSFT) responded to the adjournment decision.
"Weâre grateful the UKâs Competition Appeal Tribunal has conditionally agreed to pause the formal appeal process subject to additional information," a Microsoft spokesperson told Seeking Alpha. "As weâve said before, we are considering how the transaction might be modified to address the CMAâs concerns."
On Friday a UK appeals court set Monday for a hearing to consider requests by the UK's antitrust regulator and Microsoft (MSFT) to adjourn the proceeding as the parties discuss the Activision (ATVI) deal. 
Bloomberg reported on Thursday that Microsoft (MSFT) and Activision (ATVI) are evaluating selling some of their cloud-gaming rights in the UK in order to appease the UK regulator. A potential resolution may involve selling off the cloud-based market rights for videogames in the UK to a telecom, gaming, or internet-based computing firm.
Microsoft on Sunday said it signed a binding agreement to keep the videogame "Call of Duty'' on Sony's (SONY) PlayStation following the completion of its acquisition of Activision (ATVI).
The UK news comes after an appeals court on Friday denied the Federal Trade Commission's effort to have the $69 billion Activision deal paused as it appealed a decision on Tuesday that left the deal go forward. The 9th Circuit Court of Appeals denied the request from the antitrust regulator, according to a court filing from a three-judge panel in San Francisco on Friday.
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