Vivendi Buys Back into Videogame Business
October 14 2015 - 1:40PM
Dow Jones News
PARIS—Vivendi SA is re-entering the videogame business,
splashing out €160 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
€140.3 million to buy a 6.6% stake in Ubisoft and another €19.7
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 €9 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 13:25 ET (17:25 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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