Deals
Ubisoft, Gameloft Shares Surge After Vivendi Acquires Stakes
- Vivendi revisits video games after cutting back on Activision
- Company invests $183 million from its $10 billion cash pile
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Ubisoft Entertainment SA and Gameloft SE shares jumped in Paris trading after Vivendi SA, the French media company with a $10 billion cash pile, bought minority stakes in the video-game developers for about 160 million euros ($183 million).
Vivendi acquired a 6.6 percent stake in Ubisoft for 140 million euros, and a 6.2 percent holding in Gameloft for 19.7 million euros. Ubisoft jumped as much as 14 percent in the French capital, while Gameloft surged as much as 17 percent.