Vivendi Increases Stake in Ubisoft to 20%, Claims It Just Wants “Fruitful Cooperation”
Sometime during E3 2016 week, Vivendi ended up increasing its stake in Ubisoft Entertainment despite fierce opposition from Yves Guillemot in the past. According to a press release on the French media conglomerate’s website, it now holds 20.10% of the developer’s share capital and 17.76% of its voting rights.
This move comes shortly after Vivendi completed its takeover of Gameloft, a studio owned by Yves’s brother, Michel. The company denies that it has intentions of a takeover and says that it merely wants “fruitful cooperation.” However, Vivendi has also said outright that it will “continue to acquire shares depending on market conditions.” Here’s an excerpt from the press release:
– Vivendi is considering continuing to acquire shares depending on market conditions;
– Vivendi is not considering the launch of a public tender on Ubisoft nor acquiring the control of the company;
– Vivendi is hoping to build a fruitful cooperation with Ubisoft;
– Vivendi is considering asking for a recomposition of the Ubisoft Board of Directors in order to, among other things, obtain Board representation consistent with its shareholder position;
– Vivendi’s investment in Ubisoft’s business sector is part of a strategic vision of operational convergence between Vivendi’s content and platform and Ubisoft’s productions in the field of video games.
Back in June, we reported that the Guillemot brothers were seeking help from financial advisers to protect Ubisoft after losing Gameloft. It remains to be seen how the developer will respond to Vivendi’s latest move.
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