ATHENS 

The EU on Monday approved Microsoft’s acquisition of video games giant Activision Blizzard for $69 billion.

“An in-depth market investigation indicated that Microsoft would not be able to harm rival consoles and rival multi-game subscription services,” the European Commission said in a statement.

According to the statement, Microsoft's offer of 10-year free licensing deals – which promise European consumers and cloud game streaming services access to Activision's PC and console games – would ensure fair competition in the market.

"The commitments fully address the competition concerns identified by the Commission and represent a significant improvement for cloud gaming as compared to the current situation,” it added.

In April, the UK's Competition and Markets Authority moved to block the purchase, arguing that would crush the cloud gaming market.

Activision Blizzard is a US-based video games giant which produces some of the world’s best-known games, including Call of Duty, StarCraft, and World of Warcraft.