In a recently leaked email from 2020, Microsoft Gaming CEO Phil Spencer expressed ongoing interest in acquiring either Nintendo or Valve, the developer behind Steam. 

The email was revealed as part of the Federal Trade Commission (FTC) lawsuit, which aimed to block Microsoft Corp.'s (NASDAQ:MSFT) proposed merger with Activision Blizzard Inc (NASDAQ:ATVI), Kotaku reported.

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Spencer discussed his interest in Nintendo ADR (OTC:NTDOY), describing it as "THE prime asset for us in Gaming.”

He mentioned having conversations with Nintendo's leadership team about closer collaboration, given that Nintendo "is sitting on a big pile of cash," the leaked email said.

He did acknowledge in the email that a near-term merger with Nintendo didn't seem feasible, and he didn't favor a hostile takeover.

Instead, he emphasized playing the long game and noted that Microsoft's board of directors was supportive of the idea of acquiring Nintendo or Valve if the opportunity arose.

"At some point, getting Nintendo would be a career moment," Spencer added. "It’s just taking a long time for Nintendo to see that their future exists off of their own hardware. A long time…. :-)"

These leaked documents offer an unprecedented inside look at Xbox's operations from 2019 to 2022, including plans for mid-gen updates and next-gen consoles and the company's cloud gaming aspirations.

Initially, some Xbox fans speculated that the FTC might be behind the leak, but the agency denied any involvement.

The blame for the leak was squarely placed on Microsoft, as the company provided the unredacted materials, which were subsequently uploaded by to the court case's internet page.

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Photo: Miguel Lagoa on Shutterstock and photo courtesy eVRydayVR on Flickr