Vivendi Raises Its Stake in Ubisoft
June 17 2016 - 11:59AM
Dow Jones News
By Nick Kostov
Vivendi SA increased the pressure on videogame company Ubisoft
Entertainment SA, adding to its stake and saying that it intends to
continue buying more, according to a regulatory filing on
Friday.
Vivendi, the French media company led by billionaire Vincent
Bolloré, acquired stock giving it 20.1% ownership in Ubisoft, up
from 17.7% previously. It added that it doesn't plan to make a bid
or take control of the company for the next six months.
"Vivendi continues to hope for the establishment of a fruitful
collaboration with Ubisoft," the company said in the statement.
Ubisoft, which is known for franchises such as "Assassin's
Creed," has been hostile to Vivendi's stake-building for months,
saying that Vivendi doesn't know the videogame business and would
destroy shareholder value.
Vivendi last month prevailed in its efforts to gain control of
Gameloft SE, a sister company to Ubisoft.
Write to Nick Kostov at Nick.Kostov@wsj.com
(END) Dow Jones Newswires
June 17, 2016 12:44 ET (16:44 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Vivendi (PK) (USOTC:VIVHY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Vivendi (PK) (USOTC:VIVHY)
Historical Stock Chart
From Jul 2023 to Jul 2024