Activision shareholders threaten to divest if demands aren't met

Fidelity International sends a list of demands to $ATVI and is prepared to divest $62 million worth of stock if they aren't met.

Published Mon, Jan 17 2022 1:38 PM CST   |   Updated Fri, Feb 11 2022 5:37 PM CST

One Activision-Blizzard shareholder is prepared to rid itself of all stocks if certain demands aren't met.

Activision shareholders threaten to divest if demands aren't met 1 |

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.

Activision shareholders threaten to divest if demands aren't met 54 |
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Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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