Diamond Member Pelican Press 0 Posted October 8, 2024 Diamond Member Share Posted October 8, 2024 This is the hidden content, please Sign In or Sign Up Saudi Arabia has reduced its stake in Nintendo Saudi Arabia’s sovereign wealth fund has reduced its stake in Nintendo, according to a new report. This is the hidden content, please Sign In or Sign Up (via This is the hidden content, please Sign In or Sign Up ) notes that Savvy Games – an investment group founded by Saudi Arabia’s Public Investment Fund (PIF) – has cut its stake in Nintendo from 8.58% to 7.54%, a move which still makes it one of Nintendo’s largest shareholders. The move follows widespread reports that Savvy Games was considering a move to increase its stake in Nintendo, reports stemming from an interview which was later corrected. This is the hidden content, please Sign In or Sign Up had initially quoted Prince Faisal bin ******* bin Sultan Al-Saud, the group’s vice chair, as saying that the company was interested in investing further in Nintendo. However, the site later corrected inaccuracies in the quotes, instead attributing Savvy Games’ interest to “********* gaming companies” in general instead of Nintendo specifically. The fund acquired a 5.01% stake in Nintendo in May 2022, and as of mid-2024 this had grown to 8.58% of the company. Nintendo has previously claimed that when the PIF bought its initial stake in the company, This is the hidden content, please Sign In or Sign Up and first learned about the Saudi investment from news reports. data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw== The PIF, which has made a series of investments in the video games industry in recent years, is reportedly central to Crown Prince Mohammed bin Salman’s goal of making the Saudi economy less reliant on proceeds from oil. In December 2020, the fund acquired over $3 billion worth of stock in Call of Duty maker Activision Blizzard, FIFA publisher Electronic Arts, and Rockstar’s parent company Take-Two. This is the hidden content, please Sign In or Sign Up #Saudi #Arabia #reduced #stake #Nintendo This is the hidden content, please Sign In or Sign Up This is the hidden content, please Sign In or Sign Up Link to comment https://hopzone.eu/forums/topic/145023-saudi-arabia-has-reduced-its-stake-in-nintendo/ Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now