Tencent makes megabucks offer to buy majority stake in Ubisoft

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A Reuters report (opens in new tab) says Tencent, China’s largest tech firm and an absolute gaming behemoth, has its sights set on Ubisoft. Tencent already has a 5% stake in Ubisoft, acquired in 2018, and is seemingly trying to gobble up a number of the 16% stake held by the Guillemot household, who co-founded and nonetheless run the enterprise. Tencent’s purpose is to develop into the only largest shareholder within the writer.

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Ubisoft is at present valued at round $5.3 billion, and Tencent is trying to purchase at a worth of $101.84 per share (its 2018 stake was purchased at roughly $67 {dollars} per share). This can be a large supply: Ubisoft’s inventory worth has averaged round $45 per share up to now this 12 months, whereas its highest-ever valuation was round $110 in 2018.

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