The Vivendi and Ubisoft story folds each passing day and today, the company felt relieved following the annual shareholders meeting.
As you may have heard, French media company Vivendi has been working hard and with aggressive attempts, has been trying to take over Ubisoft. This has been ongoing for the past year now and today, during the company’s annual shareholders meeting, things got settled. At least for now.
Being shareholders themselves, Vivendi has been looking towards getting more involved by getting a seat on the board. However, this isn’t happening just yet. In an interview with the Wall Street Journal, a Vivendi spokesperson replied to the allegations towards the company planning a hostile takeover.
“Since we became a shareholder, we have written requesting meeting but so far, nothing has happened,” said the spokesman. “We feel it would be normal as the main shareholder to have a seat on the board, but we’re not in a hurry.”
Ubisoft CEO Yves Guillemot shared his thoughts on the issue, claiming that the dangerous schemes Vivendi implement are unsettling.
“We won’t relax until they sell their shares. The creeping control strategy implemented by Vivendi is dangerous. We think that there’s a great risk of shareholders losing value,” said the CEO.
However, following the annual meeting this morning, CEO Yves Guillemot appeared to be “very relieved”.
“Today during our Annual General Meeting, Ubisoft shareholders expressed massive support for Ubisoft’s strategy and management,” said a Ubisoft spokesperson. “We remain focused on the execution of our strategic roadmap, which has already proven successful and which we are confident will continue to deliver great results and value for all of Ubisoft’s stakeholders. We’re also very happy to welcome two new independent directors, Frederique Dame and Florence Naviner, who will bring their expertise and know-how to Ubisoft’s board.“
This isn’t the last we are going to hear about Vivendi for certain. Do they plan on being a lot more hostile towards being granted a seat on the board?
Stay tuned for further updates on the story!