Vivendi Raises Stake in Gameloft
December 07 2015 - 2:20PM
Dow Jones News
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 €111.6 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 €9 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 14:05 ET (19:05 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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