Guillemot family lifts Gameloft stake to head off takeover: AMF

Reuters News
Posted: Dec 02, 2015 4:56 AM

PARIS (Reuters) - The founding family of Gameloft has raised its stake to 16.63 percent, with 25.11 percent of the voting rights, as it aims to head off a "creeping takeover" of the video games maker, according to a statement from France's AMF financial regulator.

The Guillemot family does not plan to take control of the company but does not rule it out, according to the AMF statement, citing a letter from the family received on Wednesday.

The family "will take the necessary measures to avoid a creeping takeover by people who could challenge Gameloft's strategy and global vocation to the detriment of the company and its shareholders," according to the AMF statement.

European media group Vivendi has been buying shares in Gameloft and peer Ubisoft, founded by the same family, and held 17.34 percent of Gameloft's capital and 15.34 percent of voting rights as of Nov. 19, according to the AMF.

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Vivendi said in October it did not rule out making takeover bids for the French video games makers in the next six months. The companies have said they want to remain independent and that Vivendi's investments have not been made with their agreement.

(Reporting by James Regan; Editing by Brian Love)