Electonic Arts Sells Ubisoft Stake (ERTS)

According to Reuters, U.S. video games producer Electronic Arts Inc ERTS is selling out of Ubisoft Entertainment SA six years after buying a big chunk of the world's third-largest independent video games publisher. Reuters reports that a "Ubisoft spokesman said EA was selling an unspecified stake in the French company. He would not confirm reports EA was selling its entire 14.8 percent stake." "A source close to Ubisoft, however, said Electronic Arts had given investment bank UBS a mandate to sell the entire stake," the report said. Electronic Arts Inc. develops, markets, publishes and distributes video game software and content. Shares are trading slightly higher today, to $14.86.