The divestiture of COD/Activision suggested by the CMA is the bare minimum, in my opinion. Ideally, this acquisition should be blocked completely. Nothing will sway me in favor this deal.
Microsoft has been trying to level the playing field through acquisitions and spreading the false narrative that they can't "compete" with Sony otherwise, despite being a 20x bigger company than Sony, having more money & resources than Sony, and having more studios and developers than Sony.
The whole premise of this acquisition is false and encourages unnecessary consolidation of the industry. Microsoft first acquired 13 studios because they wanted to compete. When that didn't work, they acquired Zenimax because they wanted to compete. Now, according to them, they still can't compete and now want ABK to compete.
6 months later, they might say, we still can't compete, so we need to buy Take 2 or Capcom to compete. When will that stop?
I hope the CMA blocks it completely (it'd be bad even if it passes with just Blizzard & King), and Microsoft is forced to make better decisions and better use their current studios and resources.