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Looks like it's happening...
Tencent, currently the second-largest shareholder in Ubisoft and China's biggest social network and gaming firm, has yet to decide whether to participate in the buyout and increase its stake in the company, one of the people said.
This is partly because it has asked for a greater say on future board decisions including cash flow distribution in return for financing the deal, which has not been agreed upon with the Guillemot family, the person added.
Discussions between the two parties are ongoing as Tencent also wants to prevent any potential hostile takeover of Ubisoft by other investors, said the person, adding that Tencent's plan is to remain patient and wait for the founding family to agree to a deal.