Ubisoft's Guillemot family increases company stake

Ubisoft's Guillemot family increases company stake
Sean Cleaver

By Sean Cleaver

June 27th 2017 at 2:35PM

The move, reported by Reuters, is to stop media giant Vivendi from buying overall control

Reports from news agency Reuters state that the Guillemot family have raised their stake in Ubisoft to counter the threat of buyout from French media giant, Vivendi.

The AMF stock regulator said that the Guillemot family has raised their stake to 13.6 per cent of Ubisoft's shares and just over 20 per cent of the company's voting rights on the board.

The family, and Ubisoft's chairman and founder, Yves Guillemot has continuously rebuked the approaches of Vivendi, despite reports earlier this year that the company were planning to buy out the videogames developer and publisher later in 2017.

Vivendi already owns 27 per cent of the share capital for Ubisoft and just under a quarter of the voting rights, and the Guillemots have continued to act against the potential take over, upping their stake in 2016 as well.

It's been a strong year for Ubisoft following what many have called their best E3 conference to date, and certainly, one that's had a positive impact on the share price as they hit a record high on Monday.