© Reuters. FILE PHOTO: The UbiSoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. REUTERS/Benoit Tessier//File Photo
(Reuters) – Shares in Ubisoft dropped 9% on Wednesday after it announced a deal that will see China’s Tencent Holdings (OTC:) raise its stake in the company, a move seen as a signal that a full sale of the French game maker is now very unlikely.
The deal with Tencent Holdings values France’s biggest games developer at $10 billion.
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