Tencent Reportedly Looking to Increase Its Stake in Ubisoft - News
by William D'Angelo , posted on 04 August 2022 / 2,559 Views
Tencent is reportedly looking to increase its stake in the French gaming publisher and developer Ubisoft, according to Reuters who spoke with four sources familiar with the matter.
The Chinese social network and gaming firm bought a five percent stake in Ubisoft in 2018 and recently spoke with Ubisoft's founding Guillemot family with interest to increase its stake.
It isn't clear how much more stake Tencent wants to buy in Ubisoft, which is currently valued at $5.3 billion. However, Tencent does want to become the largest shareholder of Ubisoft, according to two of the sources.
Three of the sources said Tencent is looking top buy part of the stake from the Guillemot family, which owns 15 percent of the shares in Ubisoft. Tencent would also seek to acquire shares from public shareholders.
Tencent could potentially offer as much as €100 per share to acquire the extra stake in Ubisoft, which is a 127 percent premium on the average price of the stock over the past three months and is close to its historical ceiling of €108 in 2018. Tencent paid €66 per share for its five percent stake in 2018.
"Tencent is very determined to nail down the deal as Ubisoft is such an important strategic asset for Tencent," said one source.
One source claims Tencent has submitted a non-binding term sheet to the Guillemot family describing the basic terms and conditions of the investment.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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I rather they don't.
Nothing good will come of this.
The world needs to boycott anything China.
Customer certainly could do it, and companies would need to find alternatives. But customer more often than not only care about paying as little as possible.
And China is king of making cheap stuff
But even those products they make it cheaper than if it would be produced elsewhere, otherwise companies wouldn't have they produced there. Even more when companies are owner of the design and even technology and China only manufacture. If they though they could profit more making it elsewhere they would.
The world also needs to boycott anything Ubisoft.
Well I never boycotted Ubisoft, but i havent enjoyed anything from them since Assassins' Creed 2 so they're kind of doing it already for me lol
Essay Pro