Bluebay increases shareholdings to help save ailing Infogrames

Infogrames, parent company of troubled publisher Atari, has announced that Bluebay Value Recovery Fund now holds 22.5 per cent of its shares.

Bluebay has told the stock market regulator of its "intention to help the Company's turnaround, including by holding seats on the board of directors, but that it does not intend to gain control of Infogrames Entertainment."

Bluebay is now the largest shareholder of Infogrames with 22.5 per cent, followed by GLG which holds 9.29 per cent and Morgan Stanley with 4.06 per cent. The remaining 64.15 per cent are public.