Vivendi has given Ubisoft some breathing room. The French multimedia giant has announced that it won’t be acquiring anymore of the publisher-developer’s shares for the next six months.
By French law, Vivendi is legally required to make a takeover bid when they have a 30-percent stake in Ubisoft. Vivendi currently has about 26-percent of Ubisoft’s stock – an effort the Assassin's Creed and Far Cry developer has actively been opposed to.
The company’s press release says that they don’t “intend to file public tender offer” for additional shares. They also won’t be using their double voting rights on November 23 to surpass the 30-percent ownership threshold.
Vivendi noted that their unrealised capital gain on their Ubisoft investment currently sits at about $1.17 billion USD. A couple of months back, Vivendi COO Stephane Roussel said the company has yet to decide on a takeover, or if they’ll simply sell off its Ubisoft stock.
Ubisoft has “taken note” of Vivendi’s statement. “We will remain vigilant about their long-term intentions and will continue to pursue our strategy of growth and value creation in the interest of all our shareholders,” they said to Gamasutra.