New Telegraph

World Bank chief faults Microsoft on $69bn gaming deal

World Bank President, David Malpass, has criticised Microsoft’s $69 billion takeover of gaming developer Activision Blizzard as a questionable allocation of capital at a time when poor countries are struggling to restructure debts and fight COVID-19 and poverty. According to Reuters, Malpass, who stated this during a Peterson Institute for International Economics virtual event held on Wednesday, said that while more capital needed to flow into poor countries, these flows have been disrupted by unusually easy monetary policies in developed countries. He said he was struck by the scale of Microsoft’s acquisition deal for “Call of Duty” maker Activision Blizzard. This dwarfed the $23.5 billion in cash contributions agreed in December by wealthier donor countries to the International Development Association, the World Bank’s fund for the poorest countries — about $8 billion annually over three years, he said.

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