Ubisoft shares skyrocket 33% after report Tencent, Guillemot family considering buyout

“Shares of French video game publisher Ubisoft surged over 30% on Friday after a media report that Tencent and the firm’s founding Guillemot family are considering a potential buyout of the company.

Bloomberg News reported 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 spiked 33% by the market close Friday following publication of the report.”

Source: https://www.cnbc.com/2024/10/04/ubisoft-shares-skyrocket-after-report-tencent-guillemot-family-considering-buyout.html

With Tencent already being very involved with the Guillemot family and helping Ubisoft survive a hostile takeover, I could definitely see this happening.

My only question is if the French government will allow a Chinese company to purchase an iconic French company like Ubisoft,