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0.006072874493927 0.00708502024291501 0.00461285425101209 0.00461285425101209 0.00461285425101209 0.00461285425101209 0.00544028340080962 0.00771761133603238
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Ubisoft: Tencent's €1.16 Billion Lifeline Erases Debt, But The Turnaround Still Isn't Proven [Seeking Alpha]

TENCENT HLDGS UNSP/ADR (TCEHY) 
NASDAQ:AMEX Investor Relations: tencent.com/en-us/investor.html
Company Research Source: Seeking Alpha
Tencent's €1.16 billion investment eliminated Ubisoft's net debt and strengthened its balance sheet. Partnerships and Assassin's Creed drove performance, highlighting continued dependence on catalog strength rather than new releases. UBSFY's forward EBITDA is contracting, and execution risk around its new creative houses business model limits near-term visibility despite a distressed valuation. UmerPK/iStock Editorial via Getty Images Investment Thesis I assign Ubisoft Entertainment ( OTCPK:UBSFY OTCPK:UBSFF ) a hold rating. Although the company delivered improved H1 results and now benefits from a fully deleveraged balance sheet following Tencent Holdings' ( This article was written by Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it ( Show less Read more
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