Vivendi is not sure whether to absorb Ubisoft
French media conglomerate Vivendi has not yet decided whether to try to take over Ubisoft or sell its shares in the company.
Vivendi’s chief operating officer Stephane Roussel told Bloomberg about this.
He said that at the last shareholders’ meeting Vivendi asked the company’s management for a seat on the board of directors, but was refused.
However, by this November, the preponderance of forces may shift to Vivendi’s side, since its share of ownership of shares with voting rights of Ubisoft will come close to or exceed the bar of 30%. This will give the corporation double the right to vote on the board of shareholders.
In addition, French laws oblige owners of 30% or more of the shares of companies to either buy these enterprises or get rid of excess shares.
Last year Vivendi thus absorbed the mobile developer Gameloft.
To buy Ubisoft, the corporation will need to pay about $ 6.5 billion, which may be too much for Vivendi.
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