Vivendi, the parent company of Activision, has seen better days. The company is reportedly looking at about $17.3 billion in net debt to their creditors and they are now looking to raise money through various avenues, including selling their stake in Maroc Telecom, valued at about $5.7 billion, as well as a planned $3 billion withdrawal from Activision. This news comes after reports last year that Vivendi was looking to offload Activision.
Activision issued a statement back in May revealing that they had no debts and about $4.6 billion in cash. A withdrawal as big as the one planned by Vivendi could cause major issues within Activision Blizzard, which will reportedly need to take out loans of its own in order to make the withdrawal possible. This is mainly due to $2.7 billion of the total cash being held overseas. The transfer of this money to Vivendi would make it subject to US Tax laws, costing the company a fortune in extra tax over and above the already massive withdrawal.
The coming days will hold more news on this matter, so make sure to check back to OnlySP for all the latest coverage.