Vivendi sells 35M shares of Activision stock

Activision Blizzard’s parent company Vivendi has sold 35M shares in their stock. The rate at which the stock was sold is unknown, but it is thought to have been sold at $425M. The sale dropped Activision Blizzard’s stock 4% to $12.28 per share.

Vivendi has also released a statement reassuring investors and the public they have no intent on relinquishing control over the company, of which it owns a 60% share. ”This is a tactical disposal with regards to our overall capital structure, and we remain committed to Activision and to being the main shareholder,” promised the Vivendi spokesperson.

Vivendi had recently acquired EMI Music, though Vivendi refutes speculation the sale was to fund the acquisition.

Call of Duty: Modern Warfare 3 was released last week and enjoyed industry record sales.