Saudi Arabia buys more than $3.3 billion shares in EA, Activision, and Take-Two

Some interesting news from the world of finance, the Public Investment Fund of Saudi Arabia has just bought a chunk of Activision, EA, and Take Two. They snapped up 15 million Activision shares, around 3.5% of the company, 7.42 million Electronic Arts shares (2.6%), and 3.97 million Take-Two shares (3.5%).

In comparison, the top individual shareholder for Activision is our old pal Bobby Kotick, who owns just 0.56% of the company, and the largest group is Vanguard who own 7.8% of Activision, so the Public Investment Fund of Saudi Arabi have a fairly sizeable chunk of the games maker.

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If you’re thinking that Saudi Arabia has rather awful record on human rights including executions, discrimination against women, torture, religious discrimination, and the fact that being gay can get your stoned to death, you’d be right. Knowing that government owned PIF will benefit from next purchase of FIFA Ultimate Team may raise some moral questions.

However, before anyone jumps on their moral high horse I should point out that PIF already own a large amount of shares in Facebook, Disney, Uber, and Boeing, so you have almost certainly generated a dollar or two for Mohammed bin Salman bin Abdulaziz Al Saud, the Crown Prince of Saudi Arabia.

Of course, video games are not political so none of this matters.

EA recently announced that they would buy buying iconic British publishers Codemasters which means, albeit very indirectly, that the super cute egg-faced character Dizzy could be linked to giving an unfaithful wife 100 lashes. EA have also splashed out on the acquisition of Glu Mobile, the developer behind such mobile game hits as Kim Kardashian: Hollywood and a litany of other celebrity games. Glu Mobile is set to cost EA $2.4 billion in an all-cash deal – or to put it another way, it will cost EA two Codemasters  – and is expected to close during the quarter ending on June 30th.

Source: Investopedia / Arabnews

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News Editor, very inappropriate, probs fancies your dad.

1 Comment

  1. What a mess.

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