Images via Microsoft and Activision Blizzard

David Malpass, President of the Globe Banking company, has spoken out confronting Microsoft'south nearly $seventy billion acquisition of Activision Blizzard.

As reported by Reuters, Malpass took time during a recent Peterson Plant for International Economic science virtual conference to say that the bargain between Microsoft and Activision Blizzard is an insult to countries that are even so struggling with debt and other problems compounded by the COVID-19 pandemic. With developers and gamers still trying to effigy out what the acquisition means for the gaming industry, the president of the global financial group knows that the $70 billion price tag is more than the International Association Evolution budget needed to invest in some of the globe'south poorest countries.

Malpass said he was struck to learn most Microsoft purchasing the Call of Duty publisher for $68.7 billion during a time when wealthier donor countries agreed to contribute $23.5 billion in greenbacks to the IDA — that'south $eight billion annually over the terminal 3 years. The conquering won't exist finalized until financial year 2023, pending regulatory approving and other factors.

"You have to wonder: 'Wait a minute, is this the best allocation of capital?'" he said. "This goes to the bond market. Huge amounts of flows are going to the bond market, and basically that's a very small portion of the globe that has access to bond financing."

The president added that he wants to come across more money existence allocated to small businesses and infrastructure in developing countries in order to address the flow of refugees, hunger, and poverty rather than those in more opulent countries similar the U.S. In other words, he doesn't want the rich getting any richer than they already are.