Vivendi's planned sale
of its 61 percent controlling stake in Activision is apparently waning, according to Reuters
. Vivendi is said to be eying a sale of Brazillian telecommunications company Global Village Telecom (GVT), which would bring in anywhere from $8.59 to $10.42 billion – a distinctly larger number than the $8.3 billion Vivendi's stock in Acti is worth. Vivendi reportedly sought "at least 12 percent" more than the $8.3 billion stock valuation, which potential buyers turned down (Microsoft, Apple, Facebook, and several other companies were reportedly offered the stock).
Vivendi is a French conglomerate, and it's not in great financial shape. In an effort to shore up capital, it reportedly sought a sale of its controlling stake in Activision, turning to its GVT wing less than two months later in a similar effort. The French conglomerate purchased its stake in Activision back in 2007
, forming what is now known as Activision Blizzard in the process.
Economically minded readers may notice that Vivendi's interest in retaining control of Activision began declining along the same downward slope as the international economy. Though Vivendi's current financial situation is more complicated than "bad economy, sell parts of business," the worldwide recession surely can't be helping its standing.