Vivendi Raises Stake in Gameloft

By Inti Landauro

PARIS-- Vivendi SA raised its stake in French videogame publisher Gameloft SE to almost 27% as the media group said it may eventually make a takeover bid for the company.

The Paris-based group bought shares in Gameloft on the market, bringing its total stake in the company to 26.69%, Vivendi said in a statement. The company said it has paid EUR111.6 million ($121 million) for the entire stake.

Vivendi's stake in Gameloft was below 20% in late November.

Vivendi said that it intends to buy more shares in Gameloft and that it may eventually make a takeover offer for the videogame maker.

The group will seek to get representatives elected to Gameloft's board, the French stock regulator AMF said in a statement.

The purchases showed renewed interest from Vivendi in the videogame business after it sold its controlling stake in U.S.-based videogame company Activision Blizzard Inc. two years ago.

Vivendi has a roughly EUR9 billion war chest from asset sales that has led to speculation from analysts and investors about what the company would do with the money.

As Vivendi bought shares in Gameloft, U.K.-based investment fund reduced its stake in Gameloft to 8.66%, or 7.68% of voting rights.

Amber Capital UK

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

(END) Dow Jones Newswires

December 07, 2015 14:01 ET (19:01 GMT)

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