Vivendi Now Owns More Than 25 Percent of Ubisoft
The hostile takeover appears to continue. Today, via a press release, media conglomerate Vivendi announced that it has once again increased its stock in Ubisoft, and that it now owns 25.15 percent of company and 22.92 percent of its voting rights.
When outlining its objectives for the next six months in regards to the matter, Vivendi said it is “considering continuing to acquire shares,” however, “it is not considering the launch of a public tender on Ubisoft nor acquiring the control of the company.”
Further, it says, it “continues to seek a recomposition of the Ubisoft Board of Directors in order to, among other things, obtain Board representation consistent with its shareholder position.” A statement directly aimed at Ubisoft denying it board representation.
This statement was made by Ubisoft’s President and CEO Yves Guillemot about the particular matter of board representation:
“As you’re well aware, Vivendi claims that their stake in Ubisoft deserves board representation. We have always strongly opposed that claim, on the basis that the many conflicts of interest and their creeping control approach would be negative for our company, our employees and our shareholders.”
Vivendi says it is not acting with any third party in its investment, and that the acquisitions “have been financed using its disposable cash.”
As always, we will have to continue to wait and see how this all unfolds. You can read more about the ongoing saga right here.