Vivendi Cuts Stake In Activision Blizzard

Santa Monica-based videogame publisher Activision Blizzard announced late Wednesday that Vivendi S.A. is planning to sell 41,499,689 shares of Activision Blizzard common stock, in a public offering. Those shares represent half of Vivendi's stake in Activision Blizzard, and is worth around $866M. According to Activision Blizzard, the offering is being run by Barclays and Credit Suisse. Vivendi had said in July of last year that it would be selling the stake in Activision Blizzard, part of a wider restructuring at Vivendi. Vivendi said in a statement that it hopes to eventually totally exit the share capital of Activision Blizzard.