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Vivendi looking to sell its stake in Activision Blizzard once again

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Vivendi is looking to sell part of it 60 percent stake in Activision Blizzard once again, Wall Street Journal reports.

The company is aiming to refocus on its media holdings and is considering a number of options for its share in the games publisher following a decline in profit confirmed last week.

Sources close to the matter as cited by VG247 told the financial outlet that Activision management has "long been interested in buying out" part of Vivendi's current stake. Speaking in a conference call, Vivendi CFO Philippe Capron stated: "The board continues to review a variety of different options, looking at ways to optimize the balance sheet. There is a process going at the board level."

Last year, the media bigwig announced it was looking to sell 61 percent of its stake in Activision Blizzard, valued at $8.1 billion. As part of an attempt to restructure and boost its stock price after a nine-year low, Vivendi later teamed up with investment banks Goldman Sachs Group and Barclays PLC to find potential buyers on behalf of the company.