Vivendi Sells a Few (Million) Shares of Activision Blizzard Stock

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Activision BlizzardVivendi, the majority shareholder in Activision Blizzard, has sold 35,000,000 shares of Activision Blizzard stock at $12.05 per share, as disclosed in a filing with the Securities and Exchange Commission. The sale commenced on November 15, leaving Vivendi with 683,643,890. As big as those numbers seem, Vivendi sold less than 5% of its stake in Activision Blizzard, and still retains majority ownership of Activision Blizzard. Vivendi appears to have done this as a simple way of raising quick cash to maintain Vivendi's balance sheet.

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This page contains a single entry by Editor published on November 17, 2011 3:47 PM.

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