UPDATE 1-Saudi's Public Investment Fund dissolves stake in Take-Two Interactive

Electronic Arts Inc. +0.19% Pre
Take-Two Interactive Software, Inc. +4.41% Pre

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Take-Two Interactive Software, Inc.

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Feb 17 (Reuters) - Saudi Arabia's Public Investment Fund has dissolved its stake in Take-Two Interactive TTWO.O, a regulatory filing showed on Tuesday, ahead of the videogame publisher's highly anticipated launch of "Grand Theft Auto VI."

The PIF, Saudi Arabia's sovereign wealth fund, was Take-Two's second-largest shareholder with around 11 million shares worth just under $3 billion, according to data from LSEG.

The move comes even as the Kingdom intensifies its push into the videogame sector, staging several e-sports events in the country to position itself as a global hub for the industry.

Last year, the PIF had agreed to acquire Take-Two rival Electronic Arts EA.O in a $55 billion deal as part of its gaming bet.


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