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[Topher]

News follows widespread reports that it would increase investment in platform holder

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Saudi Arabia's Public Investment Fund has lowered its stake in Nintendo, in contrast to recent reports that it would increase its holding.

CNBC reported that, according to a Japanese regulatory filing, the PIF's stake in the platform holder has been reduced from 8.58% to 7.54%. This still keeps it among Nintendo's largest shareholders.

The Fund originally took a 5.01% stake in Nintendo back in May 2022.

The filing flies in the face of news reports that emerged yesterday, suggesting that Saudi Arabia would raise its stake in Nintendo. This stemmed from an interview between Kyodo News and Prince Faisal bin Bandar bin Sultan al-Saud, vice chairman of Savvy Games Group (which is owned by the PIF).

When asked about Saudi Arabia increasing its holdings in video games firms, Prince Faisai said it's "always a possibility."

Over the past few years, the PIF has taken stakes in various games companies, including Capcom, Nexon and Koei Tecmo, while Savvy has a $1 billion stake in Embracer Group.

Nintendo's shares hit a record high earlier this year after similar speculation that Saudia Arabia would invest more in the company, as well as anticipation for Switch 2.

Saudi Arabia trims stake in Nintendo

Saudi Arabia's Public Investment Fund has lowered its stake in Nintendo, in contrast to recent reports that it would in…

www.gamesindustry.biz

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[Euler007]

Good way to get a higher price on the way out.

 

[Thick Thighs Save Lives]

Lol, sneaky PIF.

Nintendo's stock price saw an increase of up to 3.9% following a report that Saudi Arabia's sovereign wealth fund is considering boosting its holdings in the company and other gaming firms. This information comes from an interview with Prince Faisal bin Bandar, the vice chairman of Savvy Games Group, a subsidiary of the fund.

 

[lestar]

Switch 2 is coming

 

[DonF]

Switch 2 is coming

And they don't believe in it

 

[Punished Miku]

Hey everyone, hey everyone!!!!!! I'm about to buy a bunch of this thing. Tell your friends.

(just kidding, sold it )

 

[Kuranghi]

What a sneaky Sultan

 

[AJUMP23]

It isn't enough to have the oil they got to profit off Nintendo too.

 

[Bloobs]

 

[Klosshufvud]

Lol, sneaky PIF.

The way the stock market operates, I'm still shocked how this legal means of money laundering, gambling and pyramid scheming is allowed. The whole system is corrupted to its core, manipulated by those who can easily influence stock values

 

[Woopah]

Lol, sneaky PIF.

That's pretty smart, and everyone fell for it.

 

[DaleinCalgary]

They know Nintendo fucks up every 2nd console they release.

 

[Interfectum]

Looks like the prince played the Switch 2.

 

[Unknown?]

What a sneaky Sultan

Oh, I come from a land, from a faraway place
Where the caravan camels roam
Where it's flat and immense/they cut off your ear
and the heat is intense/if they don't like your face
It's barbaric, but hey, it's home

When the wind's from the east
And the sun's from the west
And the sand in the glass is right
Come on down, stop on by
Hop a carpet and fly
to another Arabian night

Arabian nights like Arabian days
More often than not
are hotter than hot
in a lot of good ways

 

[Chairman Yang]

Oh, I come from a land, from a faraway place
Where the caravan camels roam
Where it's flat and immense/they cut off your ear
and the heat is intense/if they don't like your face
It's barbaric, but hey, it's home

When the wind's from the east
And the sun's from the west
And the sand in the glass is right
Come on down, stop on by
Hop a carpet and fly
to another Arabian night

Arabian nights like Arabian days
More often than not
are hotter than hot
in a lot of good ways

Props for the original lyrics!

 

[ReBurn]

They know Nintendo fucks up every 2nd console they release.

I guess they're still having SNES flashbacks.

 

[daxgame]

dat pump and dump