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Vivendi completes takeover of Gameloft as Guillemots sell stake

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Founding family leaves Gameloft 'with regret'

The Guillemot family, founders of mobile gaming powerhouse Gameloft as well as Ubisoft, will grudgingly sell their stake in Gameloft to Vivendi, completing the latter's hostile takeover.

Ubisoft remains a potential target for a similar takeover, the Wall Street Journal speculates. Vivendi, the principal shareholder in Activision-Blizzard before selling in 2013, owns 17.7 percent of Ubisoft's shares.

Vivendi wants a seat on the Ubisoft board, and the Guillemots have so far rebuffed Vivendi's attempts for greater say or control. In February they were said to be seeking supportive investors to shore up their defenses against any Vivendi push.

However, notes the Journal, Vivendi said at the end April that it had no plans to submit an offer for Ubisoft's shares through the end of October.

One week ago, Michel Guillemot announced he would resign as Gameloft's CEO at the end of the month. The Guillemots attempted to get a court order blocking Vivendi's offer for Gameloft; once that failed, they opted to sell.

"The family maintains that Vivendi's hostile approach goes against the best interest of Gameloft, both for its activity and for its teams," the Guillemot family said in a statement.