EA?s power at Ubisoft increases
Thursday, 9th August 2007 at 12:15 pm
Voting rights double as EA has now been in possession of stock for two years
US publisher Electronic Arts, which owns a 15.4 per cent stake in rival publisher Ubisoft, has now seen its voting rights to over 20 per cent after two years of stock ownership. In fact, EA’s voting power now exceeds that of the Guillemot family.
“It's in the company's statutes – if you have shares for more than two years, that doubles the voting right. It was expected,” Ubisoft told Bloomberg.
EA has opted not to nominate any board members, CVG reports.
Ubisoft CEO Yves Guillemot recently told Bloomberg: “I would not say it's fun to have a competitor among your shareholders.”
© Develop 2013. All rights reserved.