Vivendi Sells Activision Blizzard Shares

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Vivendi today announced that it unwound the hedge on its remaining 41.5 million Activision Blizzard shares (representing 5.7% of the video game publisher’s common shares) and sold its entire position to a financial institution for net proceeds of US$1.1 billion (approximately €1 billion). The unwinding of this hedge allows Vivendi to recover a cash deposit of US$0.4 billion. The decision to implement these transactions was taken in view of the evolution of the Activision Blizzard stock price. The hedge was set up in June 2015 and covered 100% of the value of the Activision Blizzard shares, denominated in US dollars. It was accomplished using a zero-cost collar with a maximum term of 18 months.
 
I guess it depends on what they come up with next.

You really can't and shouldn't blame any investor for walking with all your massive profits after a decade of high flying success.

Sure Blizz's time may be coming to a close, but it doesn't have to be. Just because they won't be making enough money to gold plate their offices doesn't mean they'll never do anything awesome again.
 
If sold to a "financial institution", best case scenario said institution realizes they don't know a damn thing about video games and lets Blizzard just do its thing.
 
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