Reuters: Tencent wants to become Ubisoft’s largest shareholder
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Chinese company Tencent is set to increase its stake in French video game developer Ubisoft. How report Reuters sources, Tencent approached the founders of Ubisoft, the Guillemot family, with an offer to buy shares.
It is not known exactly how many shares Ubisoft wants to acquire Tencent, but Reuters writes that the company plans to become the largest shareholder. She currently owns 5% of Ubisoft, which she bought in 2018. The founders of Ubisoft, the Guillemot family, now own 15% of their own company, 80% of the shares are traded on the market. The market value of Ubisoft is currently $5.3 billion.
Tencent is offering a price of €100 per share ($101.84), which is almost a third more than Ubisoft’s average share price over the past three months and very close to the €108 ceiling that Ubisoft had in 2018. According to Reuters sources, Tencent initially inflated the price to scare off competitors. In 2018, she bought shares in Ubisoft at a price of €66. Following the Reuters report, Ubisoft shares rose 21%, the biggest jump since 2004.
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