Activist Places $1 Billion Bet on Nintendo Becoming Media Giant
- ValueAct buys 2.6 million shares in latest Japanese investment
- Nintendo’s franchise could be among the world’s biggest
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Activist investor ValueAct Capital has built about a $1.1 billion stake in Nintendo Co., betting the company behind Mario and Zelda could become one of the world’s largest digital media empires.
The fund said it’s bought 2.6 million shares, equivalent to just over 2% of the company and valued at around 119.6 trillion yen ($1.1 billion) based on Tuesday’s close. It’s held discussions with Nintendo’s management about long-term strategy, ValueAct said in a statement without disclosing price or other details.