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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Andrew EisenWarning, light teasing incoming. Ahem. So, not only could you not go a full four hours without reading The Ralph Retort, but you read Kotaku? A site you say you're actively trying to convince others to stay away from? Wow!11/26/2014 - 11:56am
Wonderkarpi love nintendo <311/26/2014 - 10:27am
MaskedPixelantehttp://www.siliconera.com/2014/11/26/pokemon-omega-rubyalpha-sapphire-sold-3-million-worldwide-three-days/ More good Nintendo news that I can't wait to be turned into "NINTENDO IS DOOMED" articles by certain outlets.11/26/2014 - 10:03am
Wonderkarpthough its kinda ironic, as this cartoon shows. https://pbs.twimg.com/media/B3XCIeQCUAAWWkv.jpg cause I thought it was about wanting more women in games?11/26/2014 - 9:39am
Wonderkarphuh. thats weird... http://steamcommunity.com/sharedfiles/filedetails/?id=34087710511/26/2014 - 9:37am
Wonderkarpyeah. even being pro gg, I still dont boycott. Its stupid. I still go to Kotaku. Though I have a BS filter up. But I am addicted to their deals. 11/26/2014 - 9:36am
MaskedPixelanteI dunno, it looks like a Modern Warfare clone. Probably because the link you posted links to a screencap from Modern Warfare 2.11/26/2014 - 9:34am
james_fudgeI think boycotts arer wrong, almost always..11/26/2014 - 9:33am
WonderkarpI voted for it. looks cute. wish it was on ipad11/26/2014 - 9:30am
WonderkarpAntiGG people on twitter are calling for a boycott of an Indie game created by somebody on the "Blocklist". telling people not to vote for it on Steam Greenlight. Its a cute game about plants! http://steamcommunity.com/sharedfiles/filedetails/?id=3408771011/26/2014 - 9:22am
NeenekoWhich ties into a rather vicious cycle of mutual distrust.11/26/2014 - 8:28am
E. Zachary KnightNot really a suprise, but race correlates heavily with how one views the cops. http://reason.com/blog/2014/11/25/polling-finds-a-stark-racial-divide-in-p11/26/2014 - 8:22am
Matthew Wilsonalso, it looks like sony finally got a clue http://www.vg247.com/2014/11/26/sony-comes-to-senses-at-last-admits-playstation-is-going-to-save-it/11/25/2014 - 10:56pm
Matthew WilsonI wont say them, but there are other sites beyond youtube. it was a good move by HBO.11/25/2014 - 10:55pm
Papa Midnighthttp://www.pcgamer.com/dark-souls-to-move-from-gfwl-to-steam-a-month-later-than-expected/11/25/2014 - 10:30pm
Papa MidnightMatthew Wilson: Considering ContentID, I can't imagine that would necessarily be a problem for HBO.11/25/2014 - 10:19pm
Matthew Wilsonthey know if they dont, someone will.11/25/2014 - 8:40pm
Sora-ChanIt's a HBO show, which to be honest, considering it's HBO, it's actually surprising they even put any up on youtube.11/25/2014 - 8:36pm
Andrew EisenI imagine they hope the clips they do host (some of which are rather long) are enough to entice viewers to watch the show on whatever channel it airs on.11/25/2014 - 5:54pm
MaskedPixelanteIt's odd that these videos are missing from the official Last Week Tonight page.11/25/2014 - 5:51pm
 

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