Vivendi reportedly nearing “second phase” of hostile takeover of Ubisoft

Since late 2015 the French multimedia company known as Vivendi has been doing their best to increase their ownership of Ubisoft. Now, sources close to the multimedia company are saying that Vivendi is preparing to move on to the "second phase" of the takeover.

Vivendi began at owning 10% of Ubisoft's shares, but they have slowly been taking more and more. In February 2016 they jumped to 15%, then to 20% in June 2016. The multimedia company jumped to owning upwards of 22.8% of Ubisoft, with 20% of the voting rights in their hands. In November 2016, Vivendi made another leap to 24% of shares and 21% of voting rights. In December 2016, Vivendi owned 25.15% of the company and 22.92% of its voting rights.

Once Vivendi hits 30% of share ownership, French law dictates that they must make a mandatory takeover bid and pursue a controlling stake.

Sources close to Vivendi are suggesting that a big move from Vivendi is coming.

"Vivendi is moving to the second phase, everything will take place this year," one of the sources said to Reuters. "The logical thing would be to buy Ubisoft," another source added.

Ubisoft has been doing what they can to fight off the hostile takeover from Vivendi, they even tried buying back their shares to own more of their own voting power.