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Vivendi Ups Its Ownership Of Ubisoft To More Than 25 Percent
Vivendi continues to purchase Ubisoft stock, with a recent acquisition meaning it owns 25.15 percent of the company and 22.92 percent of its voting rights.
According to Vivendi's press release on the matter discussing its objectives for the next six months, the company says it is "considering continuing to acquire shares depending on market conditions," but that it is "not considering the launch of a public tender on Ubisoft nor acquiring the control of the company." Later on it mentions seeking "a recomposition of the Ubisoft board of directors in order to, among other things, obtain board representation consistent with its shareholder position."
Industry website Gamasutra notes that French law stipulates that should Vivendi obtain a 30-percent stake in Ubisoft it would be legally forced to submit a takeover bid.
For a big-picture look at the situation, take a look at this primer.
Our Take
This fall, Ubisoft put two "independent" members on the board, which seems to be an important bulwark for the time being.
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