Nintendo shares rise on Saudi fund report
The Peninsula
Tokyo: Nintendo shares jumped more than four percent Monday after a top official of Saudi Arabia s sovereign wealth fund was quoted as saying it was m...
Tokyo: Nintendo shares jumped more than four percent Monday after a top official of Saudi Arabia's sovereign wealth fund was quoted as saying it was mulling hiking its stake in the Japanese gaming giant.
Riyadh has built up a stake of 8.6 percent in Nintendo as part of a $38-billion push into gaming.
It also has stakes in "Resident Evil" maker Capcom, Activision Blizzard, Electronic Arts, and Scopely, the US mobile games company behind "Monopoly Go!".
"There are always opportunities," Prince Faisal bin Bandar bin Sultan Al-Saud, vice-chair of Saudi Arabia's Savvy Games -- a subsidiary of the Public Investment Fund -- told Kyodo News in an interview published Saturday.
He added, however, that the fund had no intention of raising stakes without the consent of the firms concerned.
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