Tencent wants to take control of Ubisoft

Tencent wants to take control of Ubisoft
Published by 04 Aug, 2022 0 likes

The Chinese company Tencent plans to become the largest shareholder of the French publishing house Ubisoft. This was reported by Reuters sources.

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In 2018, the Chinese IT giant acquired 5% of Ubisoft shares.

Now Tencent representatives have approached the Guillaume family, which controls 15% of the publishing house, with an offer to buy back additional shares. Another 80% is owned by various shareholders.

Tencent offers up to €100 per share as part of its global expansion strategy.

Against the background of this news, Ubisoft shares rose in price by 15%, and the shares of the holding company Guillemot Corp - by 7%.

Earlier it became known that the Guillaume family is trying to save Ubisoft by attracting private investment.

Due to numerous problems, the publishing house was also forced to switch to a cost-saving mode and cancel a number of projects.

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