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Vivendi is purportedly looking to sell its 61 per cent majority stake in Activision Blizzard, valued at roughly $8.1bn. That’s even more expensive than the steaks at Gaucho!
We’ve heard rumours of this move before, but now Bloomberg says it’s definitely on. The business news site has spoken to “a person with knowledge of the situation”.
Clearly this is better than speaking to someone with no knowledge of the situation.
Vivendi CEO Jean-Bernard Levy was booted out in a recent rejiggling of the firm (the correct term), and chairman Jean-Rene Fourtou is under pressure – presumably from lots of other people called Jean-Something – to get the company into shape.
Vivendi reportedly wants to reduce its debt liabilities.
Activision’s shares rose 4.4 per cent to $11.99 last Friday, but Bloomberg also says that the company’s stock has declined 2.7 per cent this year.
Frankly, I don’t really have anything to add to those figures. I don’t really understand these statistics; I’m just pasting them into the bottom of this story in a futile attempt to sound authoritative.
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