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You are here: Home / Tencent is negotiating for a bigger stake in Ubisoft

Tencent is negotiating for a bigger stake in Ubisoft

The big picture: Recent reports indicate Tencent wants to become Ubisoft’s biggest shareholder, working out an aggressive deal to buy stocks from public shareholders and the Guillemot family. Tencent is likely seeking more international gaming revenue as both companies have run into turbulence recently. Sources have told Reuters that Tencent senior executives met with Ubisoft’s founding Guillemot family in May to discuss making an additional stake purchase in the company. Tencent bought five percent of Ubisoft in 2018. It isn’t clear how much more Tencent wants, but it’s aiming to become Ubisoft’s single largest shareholder. The deal’s details aren’t final yet, but Tencent is making an aggressive offer at a premium. Ubisoft’s stock price over the last three months was 44 euros a share, but Tencent is offering 100. Ubisoft’s historical ceiling was 108 in 2018. The Guillemot family owns 15 percent of Ubisoft while public shareholders hold around 80 percent. Tencent wants to buy shares from both groups. Owning most of Ubisoft could be a way for Tencent to increase its stake in gaming through international revenue streams. The company has recently suffered from regulatory squeezes in its domestic Chinese market. Last August, China tightened limits on gaming for… Read full this story

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