Patrick Frater Asia Bureau ChiefSony shares staged a recovery on Thursday in Japan after previously plunging on news of Microsoft’s proposed acquisition of games giant Activision Blizzard.At the Thursday lunchtime trading halt in Tokyo, Sony Group Corp.
shares were priced at JPY12,860 apiece, up 3.6% from their Wednesday close of JPY12,410. On Wednesday, the shares had fallen by nearly 13% from JPY14230 as the deal appeared to herald a growing battle between Sony’s PlayStation console and Microsoft’s Xbox.Microsoft said that its $68 billion deal, which may take more than a year to close, would make it the world’s third largest games company by revenue, after China’s Tencent, and Japan’s Sony.The move would bring game titles including “World of Warcraft” and “Call of Duty” under Microsoft’s control.
Other synergies with Microsoft’s Azure network and with its Game Pass gaming subscription plan may be just as significant. A year ago, Game Pass had 18 million subscribers worldwide.
When the deal was announced on Tuesday, Microsoft said that number had increased to 25 million.Sony’s PlayStation Plus recorded 47.2 million subscribers at the end of Sept.
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