French publishing giant Ubisoft has announced its intention to repurchase four million of its shares.

In a brief announcement, the firm has been given permission to do this between October 5th and December 29th of this year, with an anonymous investment services provider assisting the firm to do this. It would seem that Ubisoft is once again trying to fight off a takeover from French conglomerate Vivendi, which currently owns 26

It would seem that Ubisoft is once again trying to fight off a takeover from French conglomerate Vivendi, which currently owns 27 per cent of its shares.

Ubisoft has been allowed to do this following a vote at its general meeting on its shareholders.

The four million repurchased shares are to be canceled, meaning they can’t be purchased by anyone in the future, i.e. Vivendi.

That AGM was the same meeting where it became apparent that Vivendi wasn’t actually sure what to do with the shares it had purchased from Ubisoft. This follows two years where the company has been buying up Ubisoft stock, insisting that it doesn’t want to take over the publisher. Right now, it is hanging just below the 30 per cent threshold whereby Vivendi would be legally obliged to place a bid on Ubisoft under French law. 

This follows two years where the company has been buying up Ubisoft stock, insisting that it doesn’t want to take over the publisher. Right now, it is hanging just below the 30 per cent threshold by which it would be legally obliged to put in a bid for Ubisoft.