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Vivendi ups stakes in games companies

The Vivendi office is seen in Paris on Wednesday, May 17, 2006.Vivendi has upped its stakes in French games producers Ubisoft and Gameloft.

Vivendi now holds 11.6 million shares in Ubisoft and 8.68 million Gameloft shares, taking its stakes in the two companies to 10.39% and 10.2% respectively.

“These investments are part of a strategic vision of operational convergence between Vivendi’s content and platforms on one hand and the Ubisoft and Gameloft productions in video games on the other,” Vivendi said.

“Vivendi is acting alone, is not in concert with a third party and has not concluded a temporary sale agreement regarding the Ubisoft and Gameloft shares or voting rights.”

The media giant said that it reserved the right to increase its stakes in the two companies and, “in due time, to be represented on their board”.

Vivendi initially took a 6.6% stake in Ubisoft and a 6.2% stake in Gameloft earlier this month.