Vivendi confirms its ambitions for Ubisoft and offers itself more than 15% of voting rights

by bold-lichterman

Vivendi continues its conquest at Ubisoft. The French group has just risen to 17.73% of the capital of the video game publisher, according to an opinion published by the Autorité des marchés financiers. A level that allows the firm headed by Vincent Bolloré to cross 15% of voting rights. Not without consequences: “Vivendi plans to request a reorganization of the Ubisoft Entertainment Board of Directors with a view, in particular, to obtaining a representation that is consistent with its shareholder position”, we can read in the document.

This information comes as Vivendi is also trying to acquire a stake in Gameloft, the French mobile game publisher which has one thing in common with Ubisoft: both were created by the Guillemot brothers. Last February, Gameloft, which achieved a turnover of 256.2 million euros in 2015 for more than 24 million euros in losses, officially rejected a takeover bid filed by Vivendi. The board of directors then evoked “the insufficiency of the financial terms of the offer” but also “the destabilization of Gameloft’s teams resulting from this hostile offer”.

“Convergence” strategy

At the end of March, Gameloft even filed an appeal with the Paris Court of Appeal against the AMF’s decision to consider such an operation compliant. As a reminder, it was in October 2015 that Vivendi was