In a prepared statement, Vivendi commented how it was a the perfect time to sell off the 5.7% of shares it retained in the company responsible for Call of Duty and World of Warcraft, as the stock price had risen by 90% in the last year.
The decision to implement these transactions was taken in view of the evolution of the Activision Blizzard stock price.
Vivendi sold its controlling stake back to Activison Blizzard for over $8 billion in 2013, but retained 5.7% of its shares.
The French company, which owns Universal Music Group and TV company Canal Plus, has set about purchasing shares in another game publisher last year, purchasing a 6.6% stake in Ubisoft for €140.3 million; only to increase that stake to 10.39% days later.
As a result of this move, Ubisoft’s CEO Yves Guillemot called the purchase “unsolicited and unwelcome”. Guillemot continued by saying that if Vivendi were to purchase any more, Ubisoft would be at risk of being “managed by people who don’t understand our expertise and what it takes to succeed in this industry.”
Guillemot concluded by saying that Ubisoft would “fight” to preserve its independence.