Ubisoft: No talks under way with Electronic Arts

French video games company Ubisoft Entertainment SA’s board late Wednesday said no negotiations are currently held‘ with U.S. competitor Electronic Arts Inc., which last week acquired a 19.9 percent stake in the company. Ubisoft reiterated that it considers Electronic Arts’ purchase as unsolicited and hostile, as it lacks information about intentions of the Redwood City, Calif.-based company. Electronic Arts, the world’s leader in video games publishing, Dec. 20 bought 19.9 percent of Ubisoft’s capital from Talpa Beheer BV, a Dutch investment fund owned by John de Mol, co-founder of the TV production group Endemol. Executives of Electronic Arts, which has a market value of about $19 billion, have said the stake could be useful if Ubisoft decides it wants to give up its independence. Most investors expect Electronic Arts to be preparing to bid for the French company. Shares of Electronic Arts were at $62.93 in early trading Thursday, down 51 cents, or 0.8 percent, on the NASDAQ Stock Market.