Vivendi Increases Stake in Ubisoft Yet Again, Ubisoft Responds
Vivendi has purchased Ubisoft’s shares yet again despite CEO Yves Guillemot’s concerns about the conglomerate’s continued efforts to increase its stake in the developer. Reuters has reported that Vivendi now holds 17.73 percent of capital and 15.66 percent share of voting rights but says that it has “no plan to seek control of Ubisoft or submit a public offer for outstanding shares.”
When contacted by GameInformer, Ubisoft lamented Vivendi’s latest move, stating that it’s a confirmation of the company’s “habitual strategy of creeping control.” The developer’s full statement can be read below:
We are not at all surprised by this latest statement from Vivendi, nor by the intent behind it.
This is a confirmation of their habitual strategy of creeping control, in which they say they have no intention to take control of Ubisoft while steadily increasing their stake and preparing an offensive at the next Annual Shareholders Meeting.
This strategy of successively announcing conflicting intentions is contrary to good corporate practices and is not in the best interests of Ubisoft’s other shareholders.
Moreover, despite our repeated written requests since they first entered into our capital, Vivendi has never presented any details or convincing plan on how this supposed cooperation would take place.
Ubisoft’s management remains committed to preserving the independence of the company, which is the condition for the long-term value creation that will benefit all of our shareholders.
Worth noting that Vivendi has already made a move to take over Gameloft, another video game company owned by the Guillemot brothers.