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Name | Symbol | Market | Type |
---|---|---|---|
Vivendi SE (PK) | USOTC:VIVHY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 12.00 | 11.93 | 12.01 | 12.002 | 11.99 | 12.00 | 3,633 | 16:31:51 |
By Sam Schechner
PARIS-- Vivendi SA is re-entering the videogame business, splashing out EUR160 million ($183 million) to buy stakes in French game publishers Ubisoft Entertainment SA and Gameloft SE.
The French media company said late Wednesday that it has spent EUR140.3 million to buy a 6.6% stake in Ubisoft and another EUR19.7 million to buy 6.2% of Gameloft.
The purchases are the latest indication of Vivendi Chairman Vincent Bolloré's strategy after taking control of the group last year. While a wave of asset sales in recent years left Vivendi with a roughly EUR9 billion war chest, Mr. Bolloré has so far made only relatively small purchases, such as buying French online-video firm Dailymotion or building a minority stake in Italian telecommunications company Telecom Italia.
The purchase of stakes in two videogame companies marks a contrast with Vivendi's exit two years ago from its controlling stake in U.S.-based videogame giant Activision Blizzard Inc. At the time, Vivendi was under pressure to sell off assets to boost a sagging share price.
Ubisoft is one of the largest videogame makers in the world, known for franchises like Assassin's Creed. Gameloft is a smaller firm that has seen success by making games for mobile phones. Both companies are based in the Paris area.
Write to Sam Schechner at sam.schechner@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 14, 2015 13:16 ET (17:16 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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