Vivendi plans hiking stake in Ubisoft and Gameloft, does not rule out takeover
27 Oct 2015
French multinational mass media company Vivendi yesterday said that it was planning to buy more shares in local video games makers Ubisoft and Gameloft, and added that it did not rule out possibility of tabling a takeover bid on the companies in the next six months.
The statement comes four days after Vivendi purchased additional shares in the companies taking its total stake to 10.39 per cent in Ubisoft and 10.2 per cent in Gameloft.
''The Group is considering continuing to acquire shares depending on market conditions. These acquisitions were not specifically designed as a preparatory step for a plan to takevover Ubisoft and Gameloft. Nevertheless, over the six coming months, Vivendi cannot rule out the possibility of considering such a plan,'' the Paris-based company said in a statement.
Vivendi also added that it might at a later date seek representation on the board of directors of the two companies.
Vivendi, which last year sold its telecom unit SFR Group SA to Numericable, the French cable company controlled by the billionaire Patrick Drahi, for over €17 billion, (See: Vivendi agrees to sell telecom unit SFR to Numericable in an over $23-bn deal) said that its investment in Ubisoft and Gameloft is part of its strategic vision of operational convergence between its own content and platforms and the two companies' productions in the field of video games.
