Vivendi Sells $427 million of Activision Blizzard Stock

The owner of Activision Blizzard, Vivendi, sold 3% of it?s stock, worth a total of ~$427 million bringing Vivendi?s total ownership of Acti-Blizz to 60%.  The reason, as reported by Financial Times is that Vivendi needed some extra money after acquiring the record company EMI.

This is still shocking, after Activision released Modern Warfare 3, a game that had the biggest entertainment launch in history. “This is a tactical disposal with regards to our overall capital structure, and we remain committed to Activision and to being the main shareholder,” a Vivendi spokesman told Reuters.

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Vivendi Sells $427 million of Activision Blizzard Stock

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