Vivendi Boosts Stake in Videogame Firm Ubisoft
July 18 2016 - 2:30PM
Dow Jones News
Vivendi SA again boosted its stake in videogame firm Ubisoft
Entertainment SA, and said it is considering further increases,
increasing pressure on the Guillemot family that runs the
company.
The French media conglomerate run by billionaire Vincent Bolloré
said Monday that it has bought stock giving it 22.8% of Ubisoft, up
from 20.1% just a month ago.
The Paris-based conglomerate said that the new stake gives it
20.2% of the voting rights of Ubisoft, which is known for
franchises such as "Assassin's Creed." But Vivendi reiterated in a
statement that it isn't currently planning any tender offer for
Ubisoft, nor any takeover of the firm.
Ubisoft has for months been hostile to Vivendi's stake-building,
saying that Vivendi doesn't know the videogame business and would
destroy shareholder value. Vivendi on Monday reiterated its desire
for board representation at Ubisoft.
The slow increase in Vivendi's stake continues Mr. Bolloré 's
battle with the Guillemot brothers who founded and run Ubisoft.
Vivendi in May prevailed in its effort to take control of Gameloft,
a smaller videogame company the Guillemots founded.
Write to Sam Schechner at sam.schechner@wsj.com
(END) Dow Jones Newswires
July 18, 2016 14:15 ET (18:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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