The European Union's executive branch has granted antitrust approval for the proposed $55 billion takeover of Electronic Arts (EA), led by Saudi Arabia's sovereign wealth fund. The European Commission concluded that the deal would not raise competition concerns due to its limited market impact, particularly in PC, console, and mobile gaming, as well as esports.

This approval is a significant step toward the deal's closure, though the EU is still reviewing it under foreign subsidy rules, with a decision expected by July 30. The acquisition also requires approval from other regulators, including the US Committee on Foreign Investment.

If successful, Saudi Arabia's Public Investment Fund would hold over 93 percent of EA. EA shareholders approved the takeover in December. The deal, if it closes, would be the largest leveraged buyout in history, with EA taking on over $20 billion in debt.