EA to ditch Ubisoft shares
No longer majority shareholder – is the door open to Activision interest?
Electronic Arts is attempting to sell its 15 per cent stake in French publisher Ubisoft, according to claims by Bloomberg Businessweek.
Ubisoft apparently confirmed the rumour in an email statement to Businessweek, adding that "we feel that this transaction is in Ubisoft’s best interest."
EA acquired the shares, currently valued at around $122 million, in 2005 – a move that was seen by some as the start of a hostile takeover attempt.
Speculation is inevitably high as to who will take the shares off EA's hands. An analyst from Kepler Capital Markets suggested to Businessweek that Activision Blizzard might be interested.
Ubisoft currently looks in good health, having this week issued an estimate that put its first quarter earnings up 93 per cent on the same period last year. However, its share price fell by 1.2 per cent following reports of the EA exit.