France versus EA
The French Government is about to challenge everything.
By Jeremy Dunham
January 3, 2005 - According to a report from Yahoo! UK Finance, Ubisoft Entertainment could soon be receiving support from the French government in its bid to combat a takeover from US videogame monolith, Electronic Arts.
Yahoo's article was inspired by a piece that French newspaper La Tribune ran over the Holiday Break. Though the sources for the Tribune item were never disclosed, it claimed that the French government has been watchful of gaming studios based in its country for months. Particularly in terms of how likely they are for a takeover. Ubisoft owns almost 20 of these studios and the heads for most of them are said to be very weary of a potential EA buyout. The reason? An EA takeover would supposedly mark the end of French-based decisions in the videogame industry.
Ubisoft officials have gone on record by saying that it has not had talks with EA "at present" about its 19.9 percent purchase of its capital. Furthermore, it was said, "In light of recent news spread by the press, Ubisoft's board of directors reiterates that, in the absence of information from Electronic Arts regarding its intentions, the latter's acquisition of the group's capital is unsolicited and currently considered hostile. Moreover, there are no negotiations between the two parties at present."
Newspaper Les Echos reported on December 29 that Ubisoft would gather some of its largest shareholders later this week in an effort to convince them not to give support to Electronic Arts. Furthermore, Ubisoft is considering various options to defend itself should the need arise. Increasing the holding of the Guillemot family, for instance, is among one of its chief tactics. As the Guillemot's have 17.5% of the shares and 26.6% of the voting rights.
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