French court says Bolloré does not control Vivendi
French court says Bolloré does not control Vivendi
Wed, July 8, 2026 at 10:29 AM UTC
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July 8 (Reuters) - Paris's Court of Appeal ruled on Wednesday that Vincent Bolloré and Bolloré SE do not exercise control over Vivendi SE, Vivendi said in a statement.
Shares in Vivendi fell 10% at 0900 GMT after the ruling removed, for now, the prospect of a mandatory offer by Bolloré.
Following the Cour de Cassation's November ruling, the court rejected the argument that Vincent Bolloré's personal influence as a high-profile figure should amount to control, since Vivendi's remaining shareholding is widely fragmented, narrowing the criteria for mandatory bids to voting rights exercised.
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A previous appeals court had ordered Bolloré to launch a mandatory bid for Vivendi, a move analysts estimated could cost between 6 billion and 9 billion euros ($10.3 billion). France's top civil court quashed that ruling in November and sent the case back to Paris's Court of Appeal.
The dispute stems from Vivendi's 2024 break-up. Minority investor CIAM argued the restructuring strengthened the Bolloré family's grip on the group despite Bolloré SE owning 29.9% of the shares, just below France's 30% threshold that triggers a mandatory takeover offer.
($1 = 0.8761 euros)
(Reporting by Lucie Barbier and Leo Marchandon in Gdansk; Editing by Mark Potter and Matt Scuffham)
Source: “AOL Breaking”
