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Vivendi Gains More Than 20 Percent Of Ubisoft's Voting Rights
Today, while Ubisoft announced its first quarter results, Vivendi announced that it now holds more than 20 percent of Ubisoft's voting rights.
Vivendi now has 20.2 percent of Ubisoft's voting rights and 22.8 percent of its share capital. After E3 last month, Vivendi grabbed 17.76 percent of Ubisoft's voting rights and 20.1 percent of its shares.
French law says that once the share percentage hits 30, a public offer must be tendered. Vivendi says it's "not considering the launch of a public tender on Ubisoft nor acquiring the control of the company," instead hoping for "a fruitful cooperation with Ubisoft." However, Vivendi states it will continue to consider acquiring more shares "depending on market conditions."
Vivendi has already taken over the Gameloft mobile publisher, previously controlled by Ubisoft's Guillemot family.
For more on this situation, check out Mike's excellent primer on the topic.
[Source: Vivendi]
Our Take
During today's financial call, Ubisoft mentioned its two new board members. This while Vivendi states that it wants "board representation consistent with its shareholder position." Both Vivendi's shareholder position and the pressure on Ubisoft will only mount.
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