Microsoft's takeover bid for Activision Blizzard has been given UK approval.

The Competition and Markets Authority (CMA), the UK's regulator, has given the deal the go-ahead after Microsoft restructured its initial deal in a bid to break the deadlock and receive approval.

Brad Smith, the vice chair and president of Microsoft, has welcomed the news, describing it as a the final hurdle for the deal.

He said in a statement: "We have now crossed the final regulatory hurdle to close this acquisition, which we believe will benefit players and the gaming industry worldwide."

Activision Blizzard - which is best known for creating the 'Call of Duty' gaming franchise - has also welcomed the decision from the CMA.

The video game publisher said: "The CMA's official approval is great news for our future with Microsoft, and we look forward to becoming part of the Xbox Team."

The CMA has also hailed the revised bid as a "gamechanger", explaining that the tech giant has addressed all of the regulator's concerns.

The CMA added: "The new deal will stop Microsoft from locking up competition in cloud gaming as this market takes off, preserving competitive prices and services for UK cloud gaming customers."