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French multinational media company Vivendi S.A. will soon own just less than 6% of its remaining 12% stake in the video game company Activision Blizzard. On May 28th, after the sale of 41.5 million shares (valued today at about $866 million) by Vivendi takes place, the French company’s stake will go down to 5.8%.
According to the company’s press release, in this sale of common stock, Activision Blizzard “will not receive any of the proceeds from the offering of shares by the selling stockholder.”
In July 2013, both companies agreed on separating, for Activision Blizzard to become an independent company.
[Source]: Activision Blizzard: Activision Blizzard Announces Sale of Common Stock by Vivendi S.A. [http://investor.activision.com/releasedetail.cfm?ReleaseID=849896].