Ubisoft keeps falling on the stock market and is threatened with privatization
, by Thibaut
Things are getting real ugly for Ubisoft. Suffering the consequences of the disappointing performances of XDefiant and Star Wars Outlaws, Ubisoft's share price has fallen yet another 7%.
As if that weren't enough, one of the company's "significant minority investors" wants to push for Ubisoft's going private. In the event of a refusal, the shareholder could use French law to try and gather a sufficient number of investors to force the launch of the sale process.
In a letter, AJ Investments criticizes Ubisoft for seeking to satisfy shareholders by beating its quarterly results, but never proposing a long-term strategi. The investors proposes that Ubisoft go private, with Tencent as a first-tier partner, and replace Yves Guillemot at the head of the company.
However, AJ Investments owns less than a 1% of Ubisoft's total shares. The publisher has yet to respond.
Source: aj-invest.com