Report: Activision Blizzard Majority Stakeholder Denied €1 Billion Credit Line

December 13, 2011 -

Bloomberg is reporting that Activision-Blizzard's top stakeholder Vivendi SA has failed to obtain a new line of credit worth an estimated €1 billion. According to multiple sources with "knowledge of the negotiations," the credit deal fell through mostly because of wary investors who are dealing with the mounting pressure from the European debt crisis. Vivendi SA was asked to pay an interest rate of 90 basis points above the Euro interbank offered rate, but the company held firm with its offer of 75 basis points.

According to data compiled by Bloomberg, the average interest rate for French investment-grade companies increased from 48.8 basis points to 60 in the first eight months of 2011. Given the financial atmosphere in the region, this is not surprising at all. Vivendi is reportedly looking for a better line of credit following an agreement it signed last month to pay £1.2 billion for the recorded assets of the EMI Group.

In November, Vivendi sold 35 million shares in Activision-Blizzard for a reported $425 million. At the time the company said that the decision was a "tactical disposal with regards to our overall capital structure." The company claims that it is committed to remaining the majority shareholder in the publisher.

Source: Bloomberg by way of GI.biz


 
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MattsworknameAndrew and EZK help me pull back a bit , still working on it05/22/2015 - 7:06am
ConsterI think IP is the only person here who doesn't think IP needs to dial it back several levels.05/22/2015 - 6:14am
Mattsworknamehttp://www.foxnews.com/politics/2015/05/22/fec-backs-off-flirtation-with-regulating-internet/05/22/2015 - 1:34am
MattsworknameWell, on another subject, Saw this, and while I know it's fox news, thuoght I should share it05/22/2015 - 1:34am
MechaCrashYeah, even I think IP needs to dial it back.05/22/2015 - 12:35am
Mattsworknamesays05/21/2015 - 11:17pm
MattsworknameRE doc, everyone has a tendancy to let emotion get ahead of them, especially in an annoymous forum like the web. We have have those moments. Ip however has nothing but those moments. it's why I stopped responding to him, regardless of what he thinks or05/21/2015 - 11:17pm
DocMelonheadNo offense, but I see your behaviors in the comment sections uncalled for.05/21/2015 - 8:51pm
DocMelonheadHell, I could use both Goth_Skunk and IronPatriot as an example of such behavior between the two.05/21/2015 - 8:43pm
Andrew EisenMock? Ridicule? No, we're talking about serious threats and abuse, not people being cheeky or mean. Big difference.05/21/2015 - 8:42pm
DocMelonheadIn fact I see both mocks and ridicule between both the GamerGate Supporters and GamerGate Critics.05/21/2015 - 8:41pm
DocMelonheadAs for the Harassment, well, this is the internet; people will mock and ridicule whoever they want, whenever they want, at all times.05/21/2015 - 8:40pm
Mattsworknamegoth I think all media news outlets have that disclaimer05/21/2015 - 8:39pm
Andrew EisenThat's an... interesting way to interpret that.05/21/2015 - 8:36pm
Goth_SkunkAnd re BBC vs Rockstar: Ahh. I missed that. Woops!05/21/2015 - 8:33pm
Goth_SkunkAE: The entire disclaimer is a valid reason why I don't take it seriously. Particularly the part where they say "the information contained herein may not be necessarily accurate or current." Because fact-checking, like math, is haaaaaaaaard!05/21/2015 - 8:32pm
MattsworknameI take all media reporting with huge skepticism. the Mary sue Included. that said, there not as bad Jezebel.05/21/2015 - 8:27pm
DocMelonheadYou could say that the Mary Sue only interested in Gender issues in pop culture, and they only see GamerGate as a Hate group that fight for the oppressive status quo.05/21/2015 - 8:22pm
MechaCrashWell, can't blame him for not expanding on it and missing stories here. Sealioning people demanding proof of claims and then calling them liars when they provide it is busy work!05/21/2015 - 8:20pm
Andrew EisenRe: Mary Sue - Uh, why exactly? Re: Rockstar - Yep, we reported that earlier today.05/21/2015 - 8:12pm
 

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