Talks surrounding a possible acquisition of Ubisoft are heating up. According to a new report from Reuters, Ubisoft's owners, the Guillemot family, are still in ongoing discussions with Tencent and other investors about acquiring the company.
The family is said to have made it clear to potential buyers that they want to retain control of the company. The report adds that Tencent is still hesitant to increase its stake in the company, but its negotiations are designed to prevent "any potential hostile takeover of Ubisoft by other investors."
It was first reported in October that Ubisoft was interested in being acquired by Tencent and then privatized. Ubisoft stock was suspended from trading after the reports first became public and has since resumed trading. After the resumption of trading, the stock price rose by 13%.
Tencent is Ubisoft's second largest shareholder, holding 10% of the shares. As previously reported, the reason for Tencent's hesitation was that they wanted "a greater say in future board decisions, including cash flow allocation," but the Guillemot family did not agree.
A Ubisoft spokesperson told Reuters: "We remain committed to making decisions in the best interests of all stakeholders. Against this backdrop, and as we have already indicated, the company is also reviewing all of its strategic options."
Tencent declined media requests for comment.