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Tencent seeks to raise stake in ‘Assassin’s Creed’ maker Ubisoft

Tencent seeks to raise stake in 'Assassin's Creed' maker Ubisoft

Tencent Holdings Ltd plans to increase its stake in French video game group Ubisoft Entertainment SA as the Chinese gaming giant turns to the global gaming market, four sources with direct knowledge of the matter told Reuters.

China’s biggest social network and games firm, which bought a 5% stake in Ubisoft in 2018, has approached the French firm’s founding Guillemot family and expressed interest in increasing its stake in the firm, sources said.

It’s unclear how much more Tencent wants to own in the $5.3 billion Ubisoft, but Tencent aims to become the French company’s single largest shareholder with another stake purchase, two sources said on condition of anonymity.

Tencent hopes to buy some of the additional stakes in Ubisoft, maker of the blockbuster “Assassin’s Creed” video game franchise, from the Guillemot family, which owns 15% of the firm, their sources said.

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