French Vivendi said Friday that it had sold off remaining shares in Activision-Blizzard Inc. to an unnamed financial institution for $1.1 Billion, cashing in on the share price of the videogame groups past year.
Vivendi went on to say that “The decision to implement these transactions was taken in view of the evolution of the Activision Blizzard stock price”
At one point Vivendi had controlling interest in Activision-Blizzard, but in 2013 it explored an option to sell off its stake in the company. However, Activision-Blizzard completed a share buyback from Vivendi in a deal worth $5.8 billion.
Even with this recent sale, it does not seem Vivendi is done with games. Recently it purchased a stake in Ubisoft, along with a stake in Gameloft. It has yet to be seen if Vivendi will try and make a more aggressive purchase of either of these companies, but time will tell.