Saudi Arabia's PIF cuts stake in Nintendo after report said it was considering increase [CNBC]
NINTENDO CO LTD UNSP/ADR (NTDOY)
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Source: CNBC
The PIF reduced its stakehold in the Japanese video game giant to 7.54% from 8.58% previously, according to a Japanese regulatory filing. Saudi Arabia's Public Investment Fund (PIF) trimmed its holding in Nintendo Co., a day after reports that a senior executive at the kingdom's mammoth sovereign wealth fund said it was considering upping its stake. The PIF reduced its stakehold in the Japanese video game giant to 7.54% from 8.58% previously, according to a Japanese regulatory filing. Prince Faisal bin Bandar bin Sultan al-Saud — vice chairman at Savvy Games Group, the PIF's gaming-focused subsidiary — was asked about a potential increased stake in Nintendo and other Japanese gaming companies while attending the Tokyo Game Show in late September. "It's always a possibility," Prince Faisal told local outlet Kyodo News at the time, while adding that its partners' consent is paramount, saying: "It's important to keep the communication going so you get there in the right way. We
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