Stock in French publishing giant Ubisoft has taken a slight dip in the wake of an open letter to management from a minority shareholder.
Slovakian hedge fund AJ Investments has called for the company to either be sold or be taken private in order to unlock what it believes is unfulfilled potential. The outfit’s boss, Juraj Krupa, has express “deep dissatisfaction” with Ubisoft’s performance and direction. He also believes that the company is worth between €40 and €45 per share, rather than the ~€13 it sits at at the time of writing.
Krupa also calls for Ubisoft to make more job cuts. So that’s charming. They also call the Tom Clancy’s franchise ‘Tommy’s Clancy’, which is a fantastic rebrand.
“Ubisoft at current state is mismanaged and shareholders are hostages of Guillemot family members and Tencent who take advantage of them,” Krupa said.
“Management is focused on pleasing investors with beating quarterly results and not focusing on long-term strategy to provide exceptional experience for the gamers.”
Following the publication of this letter, Ubisoft stock has dipped but this could be part of a larger trend with the company’s share price. At the time of writing, Ubi stock sits at E13.24, a 3.11 per cent decline on the day before.
