Ubisoft Shares Jump on Report That Tencent Mulls Upping Stake
August 04 2022 - 8:09AM
Dow Jones News
By Ed Frankl
Shares in Ubisoft Entertainment SA rose sharply on Thursday
after a report that Chinese conglomerate Tencent Holding Ltd. was
considering raising its stake in the videogames maker.
Tencent is aiming to become the French company's single-largest
shareholder, and could offer up to 100 euros ($101.67) a
share--more than double its current price--to acquire the
additional stake, according to a report by the Reuters news agency,
citing unnamed sources.
Shares in Ubisoft were up 16% at EUR48.94 at 1130 GMT.
Tencent plans to buy part of the additional stake from the
Guillemot family, which owns around 15% of the maker of Assassins
Creed and Far Cry, according to Reuters.
Ubisoft and Tencent couldn't immediately be reached for
comment.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
August 04, 2022 07:54 ET (11:54 GMT)
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