"The rest of Ubisoft is burdened by high operating expenses and debt. The company isn't magically worth more solely because they separate the good stuff from the bad stuff," he added.
Ubisoft released its newest title Assassin's Creed Shadows, the latest installment in Ubisoft's top game franchise, last week.
The game secured generally positive reviews, getting an average reviewer score of 82 on review aggregation site Metacritic.