Tencent wants to lift stake in Ubisoft to be largest shareholder

The Tencent logo of Tencent is seen at at its Shanghai office in China. REUTERS/ALY SONGTencent plans to raise its stake in French video game group Ubisoft Entertainment as the Chinese gaming giant pivots to the global gaming market, four sources with direct knowledge of the matter told Reuters.

Tencent plans to buy a part of the additional stake in Ubisoft, the maker of the blockbuster “Assassin’s Creed” video game franchise, from the Guillemot family, which owns 15% of the firm, three of the sources said. The details of the deal have yet to be finalised and are subject to change, said the people who spoke on condition of anonymity as the information is private.

At the top end of €100 per share, Tencent’s offer will be a premium of 127% to the stock’s €44 average price over the past three months, and is close to its historical price ceiling at €108 in 2018.

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