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JP Morgan says no plans to take control of Ubisoft despite stake
September 14, 2017 / 8:09 AM / 8 days ago

JP Morgan says no plans to take control of Ubisoft despite stake

The Ubisoft booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California, U.S. June 13, 2017. REUTERS/ Mike Blake

PARIS (Reuters) - U.S. bank JP Morgan said it had no plans to take control of video games maker Ubisoft, making the statement after a disclosure that it indirectly held about 11 percent of Ubisoft’s shares.

France’s AMF markets regulator published a filing on Wednesday showing JP Morgan’s position.

Via its indirect holding, the Wall Street bank is Ubisoft’s third-largest shareholder behind media giant Vivendi and Ubisoft’s founding family the Guillemots.

The AMF said on Thursday that JP Morgan had written a letter saying it had no strategic plans regarding Ubisoft, and that it had bought various “put” and “call” equity options on Ubisoft with an unnamed client.

Vivendi and the Guillemots have been at odds as Vivendi’s repeated attempts to get board representation at Ubisoft have been vehemently opposed by the Guillemots.

Reporting by Sudip Kar-Gupta; Editing by Edmund Blair

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