Tencent looking to increase Ubisoft stake
Chinese tech and games giant Tencent is apparently looking to increase its take in French publisher Ubisoft.
That's according to Reuters, which says that while its sources don't know how much of the Assassin's Creed maker the Chinese behemoth has its eyes on owning, it's clear it wants to have a larger slice of the pie. Some of Reuters' sources say that Tencent wants to buy some of the Guillemot family's stake – which currently owns around 15 per cent of Ubisoft – as well as acquiring some of the public stocks in the firm.
Two of Reuters' four sources say that Tencent is prepared to pay €100 per share for Ubisoft stock, considerably more than the €66 it paid for five per cent of the company back in 2018. That's also a colossal premium given that the French firm's stock hasn't been north of €50 per share since the middle of February.
Tencent is seemingly looking to find itself an even bigger presence outside of its native China amid a crackdown on tech and games companies.
"Tencent is very determined to nail down the deal as Ubisoft is such an important strategic asset for Tencent," one source said.
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