November 15, 2011 / 3:01 PM / 6 years ago

Vivendi sells 35 mln shares of game unit Activision

PARIS, Nov 15 (Reuters) - Vivendi said it had sold 35 million shares of video game maker Activision Blizzard , reducing its stake by roughly 3 percent to 60 percent.

Vivendi declined to say at which price range it had sold the block of shares. But on the basis of the opening price on Tuesday morning of $12.18 per share, the sale could net the Paris-based company around $426 million.

"This is a tactical disposal with regards to our overall capital structure, and we remain committed to Activision and to being the main shareholder," said a Vivendi spokesman.

He added that the share sale was not linked with Vivendi's Universal Music Group agreement announced Friday to buy EMI's recorded music busines for 1.4 billion euros. {ID:nL5E7MB2E3]

Activision, which is based in California, is known for its Call of Duty games as well as the on-line multiplayer game World of Warcraft, which has more than 12 million subscribers. Activision has been an important growth generator for Vivendi since it was acquired in a deal that was announced in late 2007.

Vivendi shares were down 1.3 percent to 15.68 euros per share at 1550 GMT, while Activision shares were down 4 percent to $12.28 per share.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below