UbiSoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 27, 2024. REUTERS/Sarah Meyssonnier/File Photo
(Reuters) -Ubisoft shares rose as much as 12% on Friday after it announced plans to set up a subsidiary in which Tencent will invest 1.16 billion euros, as the French video game maker seeks to recover from weak performance in 2024.
In a bid to recover from underperformance by some of the company's main titles, the Guillemot family, Ubisoft's founder and largest shareholder, began exploring talks with the Chinese tech giant in September.
