EA sells stake in Ubisoft

Cleaner competition

Games giant Electronic Arts has decided to flog off some - or all - of the 14.8 per cent share it owns of French rival Ubisoft.

Reports suggest that EA may be flogging its entire stake to investment bank UBS. Bloomberg seems to agree with Reuters that UBS is the buyer.

A sale was confimed by Ubisoft, though no details were forthcoming.

Electronic Arts bought its share of Ubisoft in 2004 to become the outfit's largest shareholder, sparking takeover talk at the time. EA looks to have given up on that idea.

Ubisoft is the planet's third largest gamer maker, responsible for such classics as Assassin's Creed and Avatar.

Ubisoft shares slipped three per cent to 6.88 euros on the news.