Vivendi Sells 3 Percent of Stock in Activision Blizzard

November 16, 2011

Vivendi revealed that it has sold 35 million shares of its Activision Blizzard holdings, reducing its stake by right around 3 percent to 60 percent. Vivendi did not disclose what it sold the block of shares for. A Reuters estimate based on the opening price on Tuesday morning of $12.18 per share puts sale at around $426 million USD.

"This is a tactical disposal with regards to our overall capital structure, and we remain committed to Activision and to being the main shareholder," said a Vivendi spokesman, who added that the sale was not in any way related to Vivendi Universal Music Group's agreement announced Friday to buy EMI's recorded music business for 1.4 billion euros.

Source: Reuters
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