I feel like something about this should be incredibly illegal, since it basically amounts to Tencent trying to sidestep every other investor in the company to gain total ownership of the valuable IPs.
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Translation: We can't find a buyer for our failing company, so next we'll try to prop ourselves up by selling/leasing our IP.
Tencent is supposedly low-key interested in buying something. It's a rumour though so credibility is unknown.
I don't think they want to sell the company. I think the family that owns the majority of it is doing everything possible to stay in control of the company called Ubisoft, regardless of how many of their IPs they still have left when the dust settles.