Vivendi to sell all Ubisoft shares after cancelled buyout

Vivendi will soon shed itself of all controlling stake in Ubisoft.

A bit ago Vivendi wanted to buyout French games-maker Ubisoft, and started buying up shares en masse. Luckily (for both gamers and Ubisoft) the corporation cancelled the hostile takeover plans and agreed to relinquish control of all stake in the publisher. Now Vivendi outlines exact details of this plan, which sees it selling the remaining 7.5 million shares (about 6.7% of Ubisoft's total shares) by March 2019.

Vivendi will sell its shares for 500 million euros in the following ways: "This 6.7% interest will be sold by Vivendi to two financial institutions as follows: approximately 0.91% on October 1, 2018 as planned, and 5.74% deferred to March 5, 2019."

The company plans to refrain from purchasing Ubisoft stock for five years.