Following Ubisoft’s annual shareholder’s meeting, Vivendi Chief Operating Officer Stephane Roussel reportedly told Bloomberg that the French conglomerate has yet to decide whether it will follow through with plans to take control of Ubisoft or just sell off its stock in the company.
Vivendi has been eyeing the opportunity to swoop in and engage in a hostile takeover of Ubisoft.
Vivendi would simply have to call for a shareholders meeting and call for a vote, effectively giving them a seat on the board. According to Roussel, Vivendi has previously called for a position but was rejected by Ubisoft.
Ubisoft CEO Yves Guillemot elaborated further, stating to Bloomberg that he does not believe Vivdeni would be successful even if they did try to get a seat by calling a shareholders meeting as he feels that their shareholders don’t want “creeping control.”
Bloomberg reports that due to a provision for double voting rights, Vivendi will come very close to owning 30 per cent of Ubisoft come November. The automatic rise in stake will be the direct result of the provision which exists in order to promote and encourage shareholder loyalty. Vivendi initiated and successfully took control of the French game company Gameloft last year with the same tactic.
Don’t forget to tune in every Friday the Pixels & Ink Podcast to hear the latest news, previews, and in-depth game discussions!
CGMagazine is Canada’s premiere comics and gaming magazine. Subscribe today to get the best of CGM delivered right to your door! Never miss when a new issue goes live by subscribing to our newsletter! Signing up gives you exclusive entry into our contest pool. Sign up once, you’ll have a chance to win! Sign up today!