[mrkwse]

Well it depends on how Microsoft's accountants manage the maths:

Hypothetically, if MS + Activision - UK > MS + UK - Activision (assuming it's only blocked in UK), it's plausible that Microsoft withdraws from UK to pursue its business with the merger everywhere else. The UK is a decent sized market, but it's far from the biggest.

[DashAnimal]

There is another possibility here, which is MS + Activision - Cloud Gaming > MS + Cloud Gaming.

I wonder if MSFT is considering that at all. They obviously have the numbers, but I wouldn't be surprised if cloud gaming hasn't seen the growth they expected and it makes sense to kill it entirely.

[ricardobayes]

That was also the thought process of many smaller companies to implement EU data privacy rules. It was easier to stop serving the market instead of complying.