Report: Activision Blizzard Majority Stakeholder Denied €1 Billion Credit Line

December 13, 2011 -

Bloomberg is reporting that Activision-Blizzard's top stakeholder Vivendi SA has failed to obtain a new line of credit worth an estimated €1 billion. According to multiple sources with "knowledge of the negotiations," the credit deal fell through mostly because of wary investors who are dealing with the mounting pressure from the European debt crisis. Vivendi SA was asked to pay an interest rate of 90 basis points above the Euro interbank offered rate, but the company held firm with its offer of 75 basis points.

According to data compiled by Bloomberg, the average interest rate for French investment-grade companies increased from 48.8 basis points to 60 in the first eight months of 2011. Given the financial atmosphere in the region, this is not surprising at all. Vivendi is reportedly looking for a better line of credit following an agreement it signed last month to pay £1.2 billion for the recorded assets of the EMI Group.

In November, Vivendi sold 35 million shares in Activision-Blizzard for a reported $425 million. At the time the company said that the decision was a "tactical disposal with regards to our overall capital structure." The company claims that it is committed to remaining the majority shareholder in the publisher.

Source: Bloomberg by way of GI.biz


 
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SleakerAlthough.. I don't think it hurts anyone if kids think the report is true :P09/01/2014 - 3:26am
Sleakerand just for future reference. National Reports is a fake news site, they decided to remove their disclaimers a while back apparently...09/01/2014 - 3:25am
Thomas RiordanDon't feel bad. I posted the same thing last night and deleted it once I realized it wasn't real.08/31/2014 - 11:13pm
E. Zachary KnightAh. The report actually read serious to me. Oh well. At least it didn't happen.08/31/2014 - 7:46pm
ConsterAlthough apparently someone who was in a swatting ring in Texas took a plea for up to 5 years in July.08/31/2014 - 7:14pm
ConsterProbably because it's a satire site.08/31/2014 - 7:13pm
E. Zachary KnightI agree that the kid should be punished, but the charge and sentence seem a bit overboard to me. http://nationalreport.net/15-year-old-swatted-domestic-terrorism/08/31/2014 - 6:56pm
Andrew EisenI get a "page doesn't exist."08/31/2014 - 11:50am
MaskedPixelantehttps://twitter.com/Nevelets/status/506076879309508608 What we're currently supposed to be offended by, or whatever.08/31/2014 - 10:10am
MechaTama31AE: Probably snarky commentary on this: http://www.gamepolitics.com/2014/08/29/principle-player-leland-yee-arms-trading-case-dies08/30/2014 - 8:43pm
Andrew EisenConster - Don't know. Got a link to whatever you're referring to?08/30/2014 - 7:04pm
ConsterWait, what's this about Leland Yee eliminating witnesses?08/30/2014 - 5:50pm
IanCBroke my EA boycott to pick up Plants vs Zombies Garden Warfare. Loving it. Still hate EA though. But i like Popcap. Gah.08/30/2014 - 6:01am
MaskedPixelantehttp://m.tickld.com/x/something-you-never-realized-about-guardians-of-the-galaxy Right in the feels.08/29/2014 - 6:56pm
AvalongodAgain I think we're conflating the issue of whether Sarkeesian's claims are beyond critique (no they're not) and whether its ever appropriate to use sexist language, let alone physical threats on a woman to intimidate her (no it isn't)08/29/2014 - 5:04pm
prh99Trolling her or trying to assail her integrity just draws more attention (Streisand effect?). Which is really not what the trolls want, so the only way to win (if there is a win to be had) is not to play/troll.08/29/2014 - 5:02pm
prh99Who cares, just don't watch the damn videos if you don't like her. Personally, I don't care as far as she is concerned as long there are interesting games to be played.08/29/2014 - 4:34pm
Andrew EisenZip - And yet, you can't cite a single, solitary example. (And no one said you hated anyone. Along those lines, no one claimed Sarkeesian was perfect either.)08/29/2014 - 3:51pm
Andrew EisenSaint's Row: Gat Out of Hell was just announced for PC, PS3, PS4, Xbox 360 and Xbox One making it the 150th game For Everything But Wii U! Congratulations Deep Silver!08/29/2014 - 3:49pm
ZippyDSMleeI do not hate them jsut think its mostly hyperlobe.08/29/2014 - 3:40pm
 

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