Wall Street bank JP Morgan has said that it does not intend to take control of French games giant Ubisoft.

As reported by Reuters, the firm made a statement after it was revealed by French market authority AMF that the bank owned 11.33 per cent of Ubisoft’s shares and 10.33 per of voting rights.

This makes it the third biggest stakeholder in Ubisoft, coming in behind founding family the Guillemots and French media conglomerate Vivendi.

The AMF says JP Morgan has written a letter saying it had no strategic interests regarding Ubisoft.

This news follows a financial cold war between the Guillemot family and Vivendi as teh French media giant attempts to control the publisher.