Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Reuters
Reuters
Business

JP Morgan says no plans to take control of Ubisoft despite stake

The Ubisoft booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California, U.S. June 13, 2017. REUTERS/ Mike Blake

PARIS (Reuters) - U.S. bank JP Morgan said it had no plans to take control of video games maker Ubisoft, making the statement after a disclosure that it indirectly held about 11 percent of Ubisoft's shares.

France's AMF markets regulator published a filing on Wednesday showing JP Morgan's position.

Via its indirect holding, the Wall Street bank is Ubisoft's third-largest shareholder behind media giant Vivendi and Ubisoft's founding family the Guillemots.

The AMF said on Thursday that JP Morgan had written a letter saying it had no strategic plans regarding Ubisoft, and that it had bought various "put" and "call" equity options on Ubisoft with an unnamed client.

Vivendi and the Guillemots have been at odds as Vivendi's repeated attempts to get board representation at Ubisoft have been vehemently opposed by the Guillemots.

(Reporting by Sudip Kar-Gupta; Editing by Edmund Blair)

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.