US Bank JP Morgan has no plans to take control of Ubisoft - Reuters

US Bank JP Morgan has no plans to take control of Ubisoft - Reuters
Sean Cleaver

By Sean Cleaver

September 14th 2017 at 11:40AM

According to French market regulator AMF, JP Morgan disclosed their stake but wrote a letter to clarify that it had no strategy for control

You'd think with all the rumour and buying and selling of shares that this would be another news story about Vivendi's approach for French games publisher, Ubisoft. But this time it's about Ubisoft's third-largest shareholder, JP Morgan.

According to Reuters JP Morgan, the US investment bank that is part of the JP Morgan Chase & Co group, disclosed their interests in Ubisoft by French markets regulator AMF.

JP Morgan is the third largest shareholder of the video games publisher, holding around 11 per cent of shares. The shares are held by the bank on behalf of an unnamed client. The AMF has received a letter from JP Morgan, which says the bank has no intention to take any kind of controlling interest in the company.

Ubisoft has repeatedly been vocal about an attempted takeover by the second largest shareholder, French media giant Vivendi. Majority shareholders, the Guillemot family, have been purchasing shares to increase their control of the company over recent years.

Ubisoft announced further expansion and investment in the Quebec region in Canada last month, with the opening of the new Ubisoft Saguenay studio, and it has also recently opened a new studio in Sweden, Ubisoft Stockholm.