By Ed Frankl
Shares in Ubisoft Entertainment SA rose sharply on Thursday after a report that Chinese conglomerate Tencent Holding Ltd. was considering raising its stake in the videogames maker.
Tencent is aiming to become the French company's single-largest shareholder, and could offer up to 100 euros ($101.67) a share--more than double its current price--to acquire the additional stake, according to a report by the Reuters news agency, citing unnamed sources.
Shares in Ubisoft were up 16% at EUR48.94 at 1130 GMT.
Tencent plans to buy part of the additional stake from the Guillemot family, which owns around 15% of the maker of Assassins Creed and Far Cry, according to Reuters.
Ubisoft and Tencent couldn't immediately be reached for comment.
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(END) Dow Jones Newswires