Vivendi Speeds Up Planned Acquisition of Ubisoft; Video Game Titan Displeased
Moving on to the next phase of their expansion, Vivendi, the French multinational mass media conglomerate, is speeding things up with their acquisition of various video game and advertising entities. In a report, the company’s acqusition is geared towards bettering its corporate strategies and share performance.
Video game titan Ubisoft is one of Vivendi’s primary desired purchase. It has poised itself to buy Ubisoft’s shares as early as 2015. As of now, Videndi already has a 25% stake of the video game company.
As mandated by French law, should the shares exceed the 30% mark, then a takeover should be in place.
Vincent Bollore, Chairman to Vivendi had been reported to have already spent an estimated, 15 billion Euros of the company’s budget for shareholders and acquisitions. However, this seems to be in vain as the company’s shares have fallen by 3% over the three years that the budget was allocated. The record of such would be the subject of the annual shareholders meeting this coming Tuesday in Paris, wherein Bollore is expected to delineate the plans he has structured for the company to develop into an integrated European media powerhouse.
Ubisoft is reported to have found distaste in the planned acquisition, citing apprehensions that this might compromise the company’s creativity.
