Tencent reportedly looks to increase stake in Ubisoft

Chinese technology and entertainment conglomerate Tencent is looking to own more of Ubisoft, if a new report is to be believed.

Raising the stakes? A report from Reuters broke the story.

• Tencent already owns 5% of Ubisoft, the company behind franchises such as Assassin's Creed, Far Cry, Tom Clancy's, and Watch Dogs.
• The report cites four sources that claim Tencent has reached out to the Guillemot family with the interest of acquiring more stock in the company. It's not been reported as to how much it would like to own.
• However, it states that Tencent aims to become the largest shareholder of Ubisoft through this move. Reuter's sources claim that the Chinese company is looking to acquire some of the desired additional stake from the Guillemot family, which owns 15% of the developer.

Tencent's portfolio: The Chinese conglomerate has an undeniable foothold in the industry.

• It owns 100% of Riot Games, the developer of League of Legends and VALORANT.
• It also has a 81.4% stake in Supercell, 40% in Epic Games, 18.7% in Sea, and 5% in Activision Blizzard (which is in the process of being acquired by Microsoft for almost $69B).
• While Tencent has the largest cumulative stake in gaming to date, Saudi Arabia's Public Investment Fund is closing ground. It owns 8.1% of Embracer Group, 5% of Nintendo, and bought over $3B in stock of Activision Blizzard, EA, and Take-Two in 2021.