Vivendi quickly raises stakes in Ubisoft, Gameloft

|About: Gameloft SA ADR (GLOFY)|By:, SA News Editor

For the second time in a week, Vivendi (OTCPK:VIVHY -0.8%) boosted its stake in videogame creators Ubisoft (OTCPK:UBSFY -1.7%) and Gameloft (OTCPK:GLOFY) and signaled it may be more ambitious.

Vivendi now holds 10.4% of Ubisoft and 10.2% of Gameloft for a total investment of €278.4M.

The company said it could buy even more shares and seek board seats -- in spite of a statement from Ubisoft and separately from Gameloft last week affirming their independence.

It's a clear course change for a Vivendi that was supposedly getting more focused on fewer businesses through divestment. But the company has been sitting on €9B in cash from those divestments and it appears to be putting it to work on a new convergence strategy.

Previously: Vivendi takes stakes in game makers Ubisoft, Gameloft (Oct. 14 2015)

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