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Vivendi Looking To Offload Activision-Blizzard?
Bloomberg reports that France’s Vivendi, the parent company of the world’s largest third party publisher, Activision-Blizzard may be looking to sell it’s $8.1 billion stake in the firm.
If no buyer can be found for Vivendi’s 61% share of the company then stocks will be sold directly on the market. Vivendi Chairman Jean-Rene Fourtou is under intense pressure following the ousting of its chief executive earlier this week to increase the corporation’s stock price and restructure its finances.
Vivendi did not respond to Bloomberg’s requests for comment.
Veteran industry analyst Michael Pathcer said “the problem is there are no readily apparent buyers for Activision.
“The only option left to Vivendi is to lever up Activision’s balance sheet and pay out all of its cash as a dividend, then spin the company off,” he continued.