Vivendi sells remaining stake in Activision Blizzard

Vivendi has sold its remaining 5.7% stake in games company Activision Blizzard for US$1.1 billion (approximately €1 billion).

Vivendi said it had decided to unwind the hedge on its remaining 41.5 million Activision Blizzard shares, allowing it to recover a cash deposit of US$0.4 billion.

The hedge was set up in June 2015 and covered 100% of the value of the Activision Blizzard shares, using a zero-cost collar with a maximum term of 18 months.

Vivendi said it cashed out of the games company, which is responsible for titles like World of Warcraft, Call of Duty and Guitar Hero, in view of “the evolution of the Activision Blizzard stock price.”