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.
The court on Tuesday found that the French tycoon effectively controls Vivendi through his eponymous holding Bolloré SE and controls the decisions made at its shareholders' meetings. The finding overturns a decision last November by the Autorité des Marchés Financiers.
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