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Ubisoft fights Vivendi's request for greater control by buying back $137.5 million in stock

Ubisoft fights Vivendi's request for greater control by buying back $137.5 million in stock

Ubisoft has attempted to combat Vivendi's imminent request for greater board representation by acquiring another $137.5 million of its own stock.

The shares, amounting to 3.2% of the company, were previously held by Bpifrance which has now sold all its stock in Ubisoft.

"We want to express our warm gratitude to Bpifrance for its support during all these years," said Ubisoft CEO Yves Guillemot.

"This transaction...fits into Ubisoft's share buyback program."

Bigger plans

Vivendi completed its hostile takeover of mobile developer Gameloft - also owned by the Guillemot family - back in June.

It has been widely suggested however that Ubisoft is Vivendi's primary target. The Guillemot family has been shoring up its defences as recently as September 6th to prevent such a move from taking place.

With Vivendi already owning 20% and keen to increase its influence, Ubisoft is on the defensive once again.

Guillemot has been open about his desire to maintain control of the company, telling Gamespot that being part of a conglomerate "can limit your possibilities".

[Source: GamesIndustry.biz]

 


Features Editor

Matt is really bad at playing games, but hopefully a little better at writing about them. He's Features Editor for PocketGamer.biz, and has also written for lesser publications such as IGN, VICE, and Paste Magazine.

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