Vivendi sells 35m Activision shares
Stock shifted at unknown prices as parent remains "committed"
Headquartered in Santa Monica, California, Activision Blizzard, Inc. is a worldwide pure-play online...
Activision Blizzard's parent company Vivendi has sold 35 million shares in the publisher at an unknown rate, in a deal which is thought to have raised around $425 million.
Share prices the morning of the sale stood at $12.28 a piece.
Vivendi issued a statement saying that it had no intentions of abandoning the 60 per cent share in the company which it retains.
"This is a tactical disposal with regards to our overall capital structure, and we remain committed to Activision and to being the main shareholder," Reuters reports a Vivendi spokesperson saying.
Vivendi also made clear to press that the sale was not made to fund the company's recently announced acquisition of EMI, although no alternative was offered.
At the time of writing, Activision's shares were down 4 per cent on the day's trading.