Ubisoft shares surge as Tencent eyes significant stake in game publisher

Tencent Holdings Ltd, the mega technology and entertainment conglomerate based in China, is seeking to raise its stake in French video game publisher Ubisoft Entertainment, according to a report released Reuters today.

Tencent previously acquired a five-percent stake in Ubisoft back in March 2018, at the cost of roughly €370 million (66 Euros per share). Tencent was one of many investors who snatched up the €2 billion worth of Ubisoft share that Vivendi was selling at the time.