Tencent aiming to become Ubisoft's biggest shareholder — report

Luke Albigés - August 5th 2022

Assassin's Creed creator Ubisoft is reported to be Tencent's next target in the Chinese giant's quest to become a global superpower, with the firm apparently looking to grow its 5% stake in the French publisher.

A new report from Reuters cites information from multiple anonymous sources, with several stating that Tencent's goal is to become Ubisoft's single largest shareholder. They also say that in order to do this, Tencent has reportedly already contacted Ubisoft's founding Guillemot family — who own 15% of the company's shares, with the other 80% apparently owned by public shareholders — with an offer price considerably above the current market value in order to deter competition and push the deal through.

Tencent could be eyeing up a bigger cut of Ubisoft shares

Reuters reports that the offer could be as much as 100 euros per share, more than double the current three-month average share price of 44 euros. Its sources add that Tencent may also approach other private shareholders in order to achieve its goal of expanding its investment to become Ubisoft's primary shareholder. Another goes on to mention that the firm is "very determined to nail down the deal as Ubisoft is such an important strategic asset for Tencent." None were able to specify exactly how much of a stake Tencent would be looking for, simply that it wanted to have the largest.