Vivendi Reported to Lack Bids for Activision Stake

Friday, 03 Aug 2012 11:20 AM

 

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Shares of Activision Blizzard Inc., the maker of the “Call of Duty” video game, dropped Friday after the Financial Times reported that majority owner Vivendi SA hasn’t attracted interest for its planned sale of its stake in the company.

Activision fell 4.4 percent to $11.25 at 10:34 a.m. New York time, after earlier tumbling 6.5 percent for the biggest intraday decline since Nov. 9. Through Thursday, the Santa Monica, California-based company’s shares had declined 4.5 percent this year.

Vivendi may not proceed with a sale in the near term after bankers failed to generate interest, the paper said, citing people it didn’t identify.

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