PARIS (Reuters) - French media group Vivendi (VIV.PA) has increased its stake in software games maker Ubisoft (UBIP.PA) to 25.15 percent from 24 percent, although Vivendi reiterated it was not planning a bid for Ubisoft.
“Vivendi is not considering the launch of a public tender on Ubisoft nor acquiring the control of the company,” Vivendi said in a statement, while adding that it would nevertheless consider buying up further shares in Ubisoft.
Vivendi also reiterated it wanted to change the make-up of Ubisoft’s board while looking to co-operate with Ubisoft.
Ubisoft shares hit a record high of 38.88 euros in July, driven partly by Vivendi’s moves to increase its stake in the company. The stock closed up 1 percent at 31.15 euros on Wednesday, up by around 17 percent so far in 2016.
The head of Ubisoft reiterated last month his desire to keep Ubisoft independent.
Reporting by Sudip Kar-Gupta; Editing by Leigh Thomas