Vivendi Boosts Stake in Videogame Firm Ubisoft

Vivendi SA again boosted its stake in videogame firm Ubisoft Entertainment SA, and said it is considering further increases, increasing pressure on the Guillemot family that runs the company.

The French media conglomerate run by billionaire Vincent Bolloré said Monday that it has bought stock giving it 22.8% of Ubisoft, up from 20.1% just a month ago.

The Paris-based conglomerate said that the new stake gives it 20.2% of the voting rights of Ubisoft, which is known for franchises such as "Assassin's Creed." But Vivendi reiterated in a statement that it isn't currently planning any tender offer for Ubisoft, nor any takeover of the firm.

Ubisoft has for months been hostile to Vivendi's stake-building, saying that Vivendi doesn't know the videogame business and would destroy shareholder value. Vivendi on Monday reiterated its desire for board representation at Ubisoft.

The slow increase in Vivendi's stake continues Mr. Bolloré 's battle with the Guillemot brothers who founded and run Ubisoft. Vivendi in May prevailed in its effort to take control of Gameloft, a smaller videogame company the Guillemots founded.

Write to Sam Schechner at [e-mail]

(END) Dow Jones Newswires

July 18, 2016 14:15 ET (18:15 GMT)

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