PARIS (Reuters) - French media group Vivendi (PA:VIV) has increased its stake in software games maker Ubisoft (PA:UBIP) to 25.15 percent from 24 percent, although Vivendi reiterated it was not planning a bid for Ubisoft.
"Vivendi is not considering the launch of a public tender on Ubisoft nor acquiring the control of the company," Vivendi said in a statement, while adding that it would nevertheless consider buying up further shares in Ubisoft.
Vivendi also reiterated it wanted to change the make-up of Ubisoft's board while looking to co-operate with Ubisoft.
Ubisoft shares hit a record high of 38.88 euros in July, driven partly by Vivendi's moves to increase its stake in the company. The stock closed up 1 percent at 31.15 euros on Wednesday, up by around 17 percent so far in 2016.
The head of Ubisoft reiterated last month his desire to keep Ubisoft independent.