PARIS--French billionaire Vincent Bolloré has refrained from seeking representation on Ubisoft Entertainment SA's board at a meeting of the videogame maker's shareholders on Thursday.

Investors and shareholders had expected Vivendi SA, the company that Mr. Bolloré chairs and which has acquired a 23% stake in Ubisoft, to seek board representation, potentially paving the way for a more active role for him in Ubisoft or even a full takeover.

Vivendi said in a statement that it had abstained from voting on Ubisoft's board representation, adding that "good governance" would include Vivendi representation.

Shareholders in Ubisoft reappointed two of the company's founders, Yves and Gerard Guillemot, as board members with a majority of votes.

Ambroise Ecorcheville contributed to this article.

Write to Inti Landauro at inti.landauro@wsj.com

(END) Dow Jones Newswires

September 29, 2016 12:55 ET (16:55 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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