Tencent and Guillemot Family Weigh Buyout of Ubisoft as Stock Rises 29%

Oct 4, 2024, 02:01 PM

Tencent and Ubisoft's founding Guillemot family are considering a potential buyout of the French video game developer, Ubisoft. The discussions include the possibility of taking the company private. This comes after Ubisoft has lost more than half of its market value in 2024, with multiple games underperforming in sales. Following the reports, Ubisoft's stock jumped 10% and entered a trading halt, later rising by 29%. Tencent has previously supported the Guillemot family in fending off a hostile takeover attempt by Vivendi and has been a close partner since.