Update: Ubisoft has officially confirmed its Montpellier Studio is working on a Beyond Good and Evil follow-up.
Taking to the Beyond Good and Evil Facebook account, the developer also affirmed Michel Ancel's involvement. "If you've been waiting for news about BG&E... well, here you go!" reads the update. "We are delighted to confirm that Michel Ancel is currently working with the Ubisoft Montpellier Studio on a new Beyond Good & Evil game."
http://www.pcgamer.com/beyond-good-and- ... next-week/
Not sure what Ancel has been working on the last few years but it's always a pleasure to know the game will eventually come out. The first game is due to go free on Uplay anytime now too.