Vivendi moves closer to taking control of games company

Vivendi has moved closer to taking full control of Gameloft after the French games company’s third-largest shareholder said it would sell to the media giant.

The decision by Amber Capital means that Vivendi’s hostile takeover attempt has now secured control of 44% of the mobile games company’s shares, more than twice the amount owned by the games company’s founders, the Guillemot family.

Amber Capital’s move followed an upping of Vivendi’s offer from €7.20 to €8 per share. Vivendi launched its takeover bid in mid-February, in the face of determined opposition from the Guillemots, who have attempted to ward off being swallowed by Vivendi by promising to increase the company’s profitability through generating additional advertising revenues.

Vivendi is also attempting to take over French games multinational Ubisoft, also founded by the Guillemots, in which Vivendi currently holds a 17.7% stake.