Ubisoft: stock up after Vivendi sells stake
(CercleFinance.com) - The Ubisoft share jumped 3.
79% to 71.16 euros on Wednesday.
Investors seem to appreciate the previous day's announcement made after trading about Vivendi's sale of its stake of about 27% held in the video games publisher.
Indeed, the latter kept on criticizing the media conglomerate's rampant strategy, which before its entry into its capital, acquired Gameloft. Vincent Bolloré now seems to have changed his tactics, having abandoned his original aims in the video games sector.
Vivendi made a healthy profit from this, having sold its 30,439,300 shares for 2 billion euros, meaning a (pre-tax) capital gain of 1.2 billion euros.
Meanwhile, Ubisoft is sticking to its announcement made on 12 February of 9-month sales that are up 46.8% at 1.19 billion euros. Raised in December, its FY targets, i.e. annual revenues of around 1.64 billion euros and a non-IFRS operating profit of about 270 million euros, are also topical. Note that an annual publication at least in line with expectations still maintains the stock's bullish momentum.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
79% to 71.16 euros on Wednesday.
Investors seem to appreciate the previous day's announcement made after trading about Vivendi's sale of its stake of about 27% held in the video games publisher.
Indeed, the latter kept on criticizing the media conglomerate's rampant strategy, which before its entry into its capital, acquired Gameloft. Vincent Bolloré now seems to have changed his tactics, having abandoned his original aims in the video games sector.
Vivendi made a healthy profit from this, having sold its 30,439,300 shares for 2 billion euros, meaning a (pre-tax) capital gain of 1.2 billion euros.
Meanwhile, Ubisoft is sticking to its announcement made on 12 February of 9-month sales that are up 46.8% at 1.19 billion euros. Raised in December, its FY targets, i.e. annual revenues of around 1.64 billion euros and a non-IFRS operating profit of about 270 million euros, are also topical. Note that an annual publication at least in line with expectations still maintains the stock's bullish momentum.
Copyright (c) 2018 CercleFinance.com. All rights reserved.