** GameStop's GME.N shares down 3% at $25.80 amid broader fall in equities on Tues after video-game retailer divests its Canadian business
** Co late Mon announced French-Canadian entrepreneur Stephan Tetrault acquired its over 185 Canadian stores
** The business to be renamed EB Games Canada, its name before GME rebranded it in 2021
** Terms of the deal were not disclosed. Transition to occur in coming months
** "This isn't just a business decision—it's about bringing something back that Canadians truly loved," said Tetrault, who will be both owner and CEO
** GME's Canadian segment generated $204 mln in sales in 2024, ~5% of co's total sales of ~$3.8 bln, per a filing
** Tetrault, founder of toymaker Imports Dragon and co-owner of McFarlane Toys, made an equity investment last month in Mastermind Toys
** In Feb, GME disclosed it was looking to sell its operations in France and Canada
** About a month later, GME said it would invest in bitcoin BTC=, mimicking the playbook of cryptocurrency hoarder Strategy MSTR.O
** With move on Tues, GME shares off ~18% YTD
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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