Ubisoft shares surged 30% Friday after a media report that Tencent and the firm’s founding Guillemot family are considering a potential buyout of the…
Friday that Tencent and the Guillemot family, which are both minority shareholders of Ubisoft, are considering a buyout among other options after the company lost more than half its market value this year.Shares of Ubisoft surged over 30% before paring gains slightly to trade at 28% as of 3:41 p.m. London time.
Last week, Ubisoft said it was postponing the release of the next title in its popular games series,"Assassin's Creed Shadows," by three months to Feb. 14, 2025. The company also cut its net bookings guidance for its 2025 fiscal year to around 1.95 billion euros, below the 2.32 billion euros Ubisoft reported for its 2024 fiscal year., is one of China's largest technology firms.
Following Ubisoft's guidance cut and a performance in the second quarter that"fell short" of the company's expectations, CEO Yves Guillemot announced that the firm's executive committee would launch a review to"further improve" execution.
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