The French media corporation Vivendi will not try to absorb Ubisoft for at least the next 6 months. This is stated in Vivendi’s financial report for the 3rd quarter of 2017.
During the next half of the year Vivendi promised not to acquire more than 30% of Ubisoft shares, after which French laws oblige the corporation to either buy Ubisoft in its entirety, or return to the established framework and sell part of the securities.
Vivendi now has a 26% stake in Ubisoft, but the gaming company is concerned about the possibility of Vivendi using the right to double vote at the next shareholders’ meeting to increase its ownership stake and take Ubisoft under full control.
This is exactly what Vivendi has pledged not to do: the press release says that the company “does not intend to submit a public tender offer” for additional shares, and on November 23 it will not use a double vote to take over the company.
Vivendi also announced that it has withdrawn its request for a seat on the board of directors of Ubisoft, after the latter rejected a similar request a few months ago.
Ubisoft noted that they took Vivendi’s statement into account, but “remain vigilant.”
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