CD Projekt rises on Cyberpunk expansion, M&A hopes

Ten Square Games

07/09/2022 11:55

** Shares in CD Projekt  CDR.WA  are up 2.5%, after rising
as much as 7%, as the Polish video game maker announced
expansion to its flagship game Cyberpunk 2077 and released a new
patch to the game  urn:newsml:reuters.com:*:nL8N30D2JB
    ** XTB's analyst Maciej Kietlinski also points to China's
Tencent  0700.HK  doubling its stake in French rival Ubisoft
 UBIP.PA , which makes buyout prospects unlikely
 urn:newsml:reuters.com:*:nL8N30D4A9 urn:newsml:reuters.com:*:nL8N30E1E0
    ** Kietlinski told Reuters CD Projekt's share move is
"somewhat correlated" to that of its Polish peer Ten Square
Games  TENP.WA , which is up 6% on Ubisoft/Tencent news
    ** "Investors are still hoping that since the share price of
CD Projekt and Ten Square Games remains in a downward trend, it
makes both of them more and more attractive in the eyes of a
potential investor, which may be a global player, such as
Tencent," he said
    ** Erste Group analyst Piotr Bogusz notes that the trailer
announcing Cyberpunk expansion has 1.2 million views on Twitter,
which shows high interest from players
    ** At Tuesday's close, shares in CD Projekt were down 59.3%​
YTD, while Ten Square's were down 73.6%
    
    

 (Reporting by Mateusz Rabiega and Anna Banacka)
 ((Mateusz.rabiega@thomsonreuters.com;
+48 58 769 67 57))