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Activision gains as report downplays Politico item on potential FTC Microsoft challenge

  • Activision (NASDAQ:ATVI) quickly rose 1% after CNBC's David Faber appeared to throw some cold water on a Politico report from last Wednesday that the Federal Trade Commission is likely to file an antitrust lawsuit to block the $95/share Activision sale to Microsoft (NASDAQ:MSFT).
  • "I don't necessarily directional believe that story from Politico is correct from last week," Faber said on the business network. "I don't have any reporting that I would go out strong with, but this is a situation that continues to bear watching. And those who believe that there's an extraordinarily high likelihood that it's going to get blocked, let's give it a little more time."
  • Faber's comment comes after Wedbush added Activision to its Best Ideas List, saying it's highly likely that the deal with Microsoft is completed within the next six months.