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JP MORGAN CHASE & COMPANY (JPM)
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JPMorgan owns 11.33 percent of Ubisoft via contracts, options

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09/13/2017 | 03:39pm CET
A J.P. Morgan logo is seen in New York City

PARIS (Reuters) - U.S. bank JPMorgan Chase & Co (>> JP Morgan Chase & Company) now indirectly owns 11.33 percent of Ubisoft (>> Ubisoft Entertainment)'s shares and 10.33 percent of voting rights, French markets authority AMF said on Wednesday.

PARIS (Reuters) - U.S. bank JPMorgan Chase & Co (>> JP Morgan Chase & Company) now indirectly owns 11.33 percent of Ubisoft (>> Ubisoft Entertainment)'s shares and 10.33 percent of voting rights, French markets authority AMF said on Wednesday.

The move occurs a little more than a week before the French video games maker's general meeting and virtually makes JPMorgan its third-largest shareholder after media giant Vivendi (>> Vivendi) and Ubisoft's founding family the Guillemots.

Vivendi and the Guillemots have been at odds for two years, as the media group's repeated attempts to get board representation at Ubisoft were vehemently opposed by the Guillemots, with the backing of several institutional investors.

Vivendi currently holds about 25 percent of Ubisoft's shares, while the Guillemots have about 15 percent, according to Reuters data.

JPMorgan, which previously held less than 1 percent of the French video game maker's shares, has essentially increased its exposure to Ubisoft by acquiring buy and sell options on the stock, according to AMF.

It also signed a contract with an Ubisoft shareholder to borrow shares and six cash-settled equity swap contracts, the French regulator added.

"This statement is purely technical, with no incidence on the vote (at the general meeting)," a spokeswoman for Ubisoft said.

(Reporting by Mathieu Rosemain and Gwenaelle Barzic; Editing by Brian Love and Leigh Thomas)

Stocks treated in this article : Ubisoft Entertainment, Vivendi, JP Morgan Chase & Company
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Financials ($)
Sales 2018 108 B
EBIT 2018 45 823 M
Net income 2018 29 920 M
Debt 2018 -
Yield 2018 2,16%
P/E ratio 2018 13,08
P/E ratio 2019 11,77
Capi. / Sales 2018 3,67x
Capi. / Sales 2019 3,49x
Capitalization 398 B
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JP Morgan Chase & Company Technical Analysis Chart | JPM | US46625H1005 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 117 $
Spread / Average Target 2,3%
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Managers
NameTitle
James Dimon Chairman & Chief Executive Officer
Gordon A. Smith Co-President & Co-Chief Operating Officer
Daniel E. Pinto Co-President & Co-Chief Operating Officer
Marianne Lake Chief Financial Officer & Executive Vice President
Lori A. Beer Chief Information Officer
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