Vivendi Increases Stake in Ubisoft to 10.39%

23rd October, 0 replies

Vivendi has increased its equity stake in Ubisoft for the second time this month, despite objections from Ubisoft CEO Yves Guillemot.

Vivendi purchased a 6.6 percent stake in Ubisoft worth €140.3 million last week. As of October 20th, Vivendi now holds a 10.39 percent stake in Ubisoft, worth a total of €244 million.

Vivendi said the following about the increased equity stake:

"These investments are part of a strategic vision of operational convergence between Vivendi’s content and platforms on one hand and the Ubisoft and Gameloft productions in video games on the other.

Vivendi is acting alone, is not in concert with a third party and has not concluded a temporary sale agreement regarding the Ubisoft and Gameloft shares or voting rights.

The Group reserves the right to increase its stake in these two companies depending on market conditions and the possibility, in due time, to be represented on their board."

Yves Guillemot is on record saying that Ubisoft is "going to fight to preserve our independence. We should not let this situation - nor any future actions by Vivendi or others - distract us from our goals."

Source:

goo.gl/…

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