One Activision-Blizzard shareholder is prepared to rid itself of all stocks if certain demands aren't met.
Fidelity International has warned $ATVI that it is prepared to sell $62 million worth of stock if the company doesn't heed specific demands. As per reports from The Wall Street Journal, Fidelity International has sent a list of demands to the controversial video games publisher. If the demands aren't met, sources tell The WSJ, then Fidelity International will not only divest all of its Activision-Blizzard holdings but also "enlist the support of other shareholders."
Fidelity has been a stakeholder for at least 22 years and was once Activision-Blizzard's fourh-largest shareholder. Under the Fidelity Contrafund, it owned over 11 million shares worth $1 billion in March 2021, but sold over 90% of its shares following Activision-Blizzard's sexual abuse controversy.
As of November 2021, SEC filings show Fidelity owned 807,858 ATVI shares under the Fidelity Contrafund worth $62.5 million.
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