Paris Court Backs Vivendi Investors in Potential Blow to Bolloré

DECRYPTAGE - The Paris Court of Appeal asked the Autorité des marchés financiers to review the effects of the December cutting of the conglomerate, which could cost the Bolloré group a lot.

In a landmark judgment, the Paris Court of Appeal disavowed the Autorité des marchés financiers, which had found in November 2024 that the Bolloré group could cut Vivendi in four without launching a public offer of prior withdrawal.

Paris Court Backs Vivendi Investors in Potential Blow to Bolloré

A Paris appeals court dealt billionaire Vincent Bolloré a potentially sharp blow over last year’s breakup of Vivendi SE, saying that he had effective control over the media conglomerate and telling France’s market regulator to consider whether a mandatory public withdrawal offer was needed.

Vivendi's minority shareholders won a decisive battle against the billionaire.

On Tuesday, the Paris Court of Appeal asked the Autorité des marchés financiers (AMF) to reconsider the terms of Vivendi's division, giving reason on this point to a minority shareholder fund which contests the whole transaction. This decision does not call into question the division itself, but could eventually lead to the payment of substantial compensation to shareholders. The proceedings were initiated by the Ciam fund. It launched all-out s…

Justice ruled in favor of the activist investor group CIAM, which argued that the Vivendi spin-off favored the main shareholder, Bolloré SE, to the detriment of the interests of minority shareholders