Report: Vivendi considers Activision sale
Friday, 29th June 2012 at 10:40 pm
Executives under pressure to sell off assets after nine-year share price low
A report claims that Activision parent company Vivendi is considering selling its stake in the publishing giant.
According to Bloomberg, a source close to the situation said Vivendi is seeking a buyer for its $8.1 billion stake in the company.
The Paris based entertainment corporation owns 61 percent of Activision, and if it cannot find a buyer, it will offload its shares on the open market.
Vivendi Chairman Jean-Rene Fourtou is being pressured by investors to restructure to boost stock prices, which have slumped to their lowest levels in nine years.
Activision, as the world's largest publicly traded game publisher, is one of the easiest assets to sell.
This report jibes with earlier claims, which caused Activision shares to tumble on rumor of a sell-off.
The source has requested to remain anonymous, as the information was supposed to remain private.
Vivendi denied the last round of rumors in April, but neither company has responded to the latest round of claims.
© Develop 2013. All rights reserved.