EA Sells Ubisoft Shares

PARIS (Dow Jones)–U.S.-based video-game developer Electronic Arts Inc. (ERTS) has sold its 14.8% stake in its French counterpart Ubisoft Entertainment SA (UBI.FR) for an undisclosed sum to investors it didn’t identify, ending a tenuous six-year relationship that began with French fears of a hostile takeover by the American group. “Our strategic priorities have changed since our initial investment,” Electronic Arts said in a statement. “More recently, the Ubisoft position has been viewed as a portfolio holding, rather than a strategic holding,” …

Source