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Added by Gauss on 30.06.2012 |
The rumors were true after all...
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Seems that, Vivendi is looking to unload Activision Blizzard. The company wants to sell its 61% stake in the publisher, valued at $8.1 billion.
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Yes, it looks like the rumors were true.
According to Bloomberg, Vivendi decided to seek a buyer for its $8.1 billion stake in Activision Blizzard. If they can't find a single buyer, they will turn to the open market to unload those shares.
Vivendi Chairman Jean-Rene Fourtou is under pressure from investors to restructure his company and boost the stock price from a near nine-year low. The board had discussed a sale of part or all of its stake in publicly held Activision, maker of the “World of Warcraft” and “Call of Duty” titles, people with knowledge off the talks said earlier this month.
A Vivendi spokesman didn’t immediately respond to an e- mailed request for comment outside of business hours in France. Cassandra Bujarski, an outside spokeswoman for Activision, had no immediate comment.
Activision, the largest U.S. video-game publisher, rose 4.4 percent to $11.99 at the close in New York. The shares have declined 2.7 percent this year. Vivendi gained 3.1 percent to 14.63 euros in Paris, and is down 11 percent this year. The stock hit a nine-year low of 12.01 euros on April 19.
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According to analyst Michael Pachter, Vivendi might not have many suitors for the game maker:
"The problem is there are no readily apparent buyers for Activision," Pachter told Bloomberg. "The only option left to Vivendi is to lever up Activision's balance sheet and pay out all of its cash as a dividend, then spin the company off."
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So, what do you think? EA, Google, Apple, Microsoft and even Nintendo could afford to buy them...
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BloomBerg
Vivendi said to plansale of stake in Activision-Blizzard
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GameSpot
Vivendi looking to unload Activision-Blizzard report
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