Vivendi Raises Its Stake in Ubisoft

Vivendi SA increased the pressure on videogame company Ubisoft Entertainment SA, adding to its stake and saying that it intends to continue buying more, according to a regulatory filing on Friday.

Vivendi, the French media company led by billionaire Vincent Bolloré , acquired stock giving it 20.1% ownership in Ubisoft, up from 17.7% previously. It added that it doesn't plan to make a bid or take control of the company for the next six months.

"Vivendi continues to hope for the establishment of a fruitful collaboration with Ubisoft," the company said in the statement.

Ubisoft, which is known for franchises such as "Assassin's Creed," has been hostile to Vivendi's stake-building for months, saying that Vivendi doesn't know the videogame business and would destroy shareholder value.

Vivendi last month prevailed in its efforts to gain control of Gameloft SE, a sister company to Ubisoft.

Write to Nick Kostov at Nick.Kostov@wsj.com

(END) Dow Jones Newswires

June 17, 2016 12:55 ET (16:55 GMT)

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