Activision sale in doubt as Vivendi finds 'few takers'
20th Jul 2012 | 09:37
Telecoms and entertainment group Vivendi has struggled to find a buyer for its 60 percent stake in Activision Blizzard at the price its seeking, and is instead considering selling its Brazilian telecom unit GVT.
That's according to Reuters sources, who say exploratory talks to offload Activision at a 25 percent premium over its $8.3 billion market value have proven fruitless.
Microsoft, Time Warner, Tencent, Apple and Facebook were all reportedly sounded out about an acquisition, but none were interested at that price. Vivendi later said that it would consider a lower premium of around 12 percent, the report claims.
A sale of broadband provider GVT could be worth up to 8.5 billion euros and is "now being considered internally", a source told Reuters, but another option could be for Activision itself to buy out Vivendi's stake. Executives like Activision CEO Bobby Kotick are said to be interested, but it's unclear if the game publisher could offer enough of a premium to secure a deal.