Vivendi may challenge court ruling on breakup, says secretary general
PARIS, April 28 (Reuters) - Vivendi (VIV.PA), opens new tab may challenge a court ruling requiring France's market watchdog to look again at whether shareholders should have received a mandatory buyout offer when the group split last year, its secretary general said on Monday.
The former media group spun off its Canal+ (CAN.L), opens new tab, Louis Hachette (ALHG.PA), opens new tab and Havas (HAVAS.AS), opens new tab businesses in December, listing them separately as standalone companies in London, Paris and Amsterdam.
The break-up was approved by more than 97% of the group's shareholders.
However it faced strong opposition from some minority shareholders, who argued that the split would increase top shareholder Bollore SE's (BOLL.PA), opens new tab grip on Vivendi and its now former entities at their expense.
In a rare move, the Paris Court of Appeal last week overruled the French markets authority, the AMF, ruling that billionaire Vincent Bollore controlled the Vivendi group and that the securities regulator should reexamine the spin-off.
If the AMF says a mandatory buyout should have taken place, a reversal of the split seems unlikely, but shareholders' compensation could be considered.
Speaking to shareholders on Monday, Vivendi Secretary General Frederic Crepin said the court's opinion that the Bollore group controlled Vivendi in the legal sense was "entirely questionable". Bollore has a 29.3% stake in Vivendi.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fashion United
an hour ago
- Fashion United
Sofitel revives hotel uniforms with Cordelia de Castellane
French luxury hotel chain Sofitel has collaborated with Paris-based French designer Cordelia de Castellane, who has been artistic director of Dior Home and Baby Dior since 2012, to revitalise the uniforms for its 25,000 employees worldwide. The new 45-piece collection will offer a new closet for all employees at Sofitel's 120-plus hotels worldwide, blending timeless silhouettes with practical needs, utilising a variety of fabrics, textures, and navy and beige colour palettes to ensure suitability for both city hotels and resorts. In a statement, Sofitel said that De Castellane's uniforms will suit all professions and destinations, while expressing 'an elegant, fluid, and boldly contemporary style' in reflection of the French luxury brand. Key looks include a belted shirtdress, a knitted dress and double-breasted jackets. Sofitel reinvents hotel uniform with French designer Cordelia de Castellane Credits: Sofitel Maud Bailly, chief executive of Sofitel Legend, Sofitel, MGallery and Emblems, said: 'The Sofitel Vestiaire is much more than a uniform: it's a manifesto. It's a tribute to our teams, who are the first to embody the renaissance of Sofitel. It reflects the joy of embracing a brand, the pride of being its ambassador, and the desire to wear our values in silk, knit, or cotton. 'We want this wardrobe to be emotionally resonant, exacting and refined, but also effortlessly chic. That's why we needed a visionary. This partnership with Cordelia de Castellane is the meeting of two visions of luxury, united by a shared passion for exceptional design." The new uniforms will embody 'French zest' and will be crafted using flexible and durable materials, which the hotel chain said will be internationally tested across pilot locations to meet 'the everyday needs of hotel staff'. The wardrobe will also adapt to all body types, roles, and climates, 'ensuring both comfort and elegance'. Sofitel reinvents hotel uniform with French designer Cordelia de Castellane Credits: Sofitel On the uniform design, De Castellane added: "For me, Sofitel is a madeleine de Proust. It brings back childhood memories, iconic hotels, and a very specific vision of French luxury. Sofitel is more than a hotel brand — it's a way of life, a natural elegance paired with a deep openness to the world. Paris was a major inspiration for this collection — because Paris means effortless chic, cultural richness, precision tailoring, and that uniquely bold creativity. 'I wanted to imagine a wardrobe that expresses this Parisian sophistication, but also the warmth of hospitality and the pride of representing a house. These are garments designed to last, to move with the body, and to make every team member feel beautiful, free, and proud." The design will also reflect Sofitel's dedication to responsible luxury and will be developed in partnership with Paris Good Fashion, an initiative that ensures every step of production respects principles of sustainability, repairability, and recyclability to reduce environmental impact and contribute to more responsible resource management.
The Herald Scotland
3 hours ago
- The Herald Scotland
Rangers drop transfer interest in PSG talent Oumar Camara
Rangers have already been linked with a move for Maccabi Tel Aviv frontman Dor Turgeman and experienced Premier League defender Conor Coady. One player who won't be joining the club is Camara. Read more: It's understood Rangers had been monitoring the 18-year-old with a view to making him an offer this summer. His deal expires at PSG at the end of this month. As per L'Equipe, Rangers have opted to cool their interest in the winger. The French teenager can play on either flank and has impressed throughout the age groups of PSG's academy. However, it's believed that with Rangers' change in ownership, after Andrew Cavenagh and 49ers Enterprises took over recently, the winger is no longer a recruitment target.
Scottish Sun
17 hours ago
- Scottish Sun
UK's ‘outrageous' migrant hotel bill revealed & it takes every penny in tax from all people in city as big as MANCHESTER
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) BRITAIN'S £4.7billion annual bill to keep migrants in hotels and look after them takes every penny of tax from 582,000 workers. The shocking new statistic is equivalent to every grafter in Manchester stumping up for asylum seekers through their pay packet. 4 Britain's £4.7billion annual bill to keep migrants in hotels and look after them takes every penny of tax from 582,000 workers 4 The shocking new statistic is equivalent to every grafter in Manchester stumping up for asylum seekers through their pay packet Credit: Getty 4 Jamie Jenkins, who did the research, said: 'This isn't just unsustainable. It's outrageous' Credit: PA Jamie Jenkins, who did the research, said: 'This isn't just unsustainable. It's outrageous. "A government that borrows billions each year, can't control borders, and taxes its citizens to pay for hotel rooms and housing for people who've just arrived is not working for the British public. 'It's time for a system that protects the people who pay in. That rewards contribution. That puts citizens first." Latest figures show there were 32,345 asylum seekers staying in up to 220 hotel. It costs £41,000 a year to house each, up from £17,000 in 2020. Ex-Office for National Statistics analyst Mr Jenkins found the average UK salary was £38,224. Each worker pays income tax and National Insurance contributions of £8,081. So 582,000's entire tax bills go on housing migrants — equal to the working population of Manchester. And it is significantly larger than the employed populations of Nottingham, Sheffield and Leeds. The total is also higher than the tax contributions of every UK mechanic and HGV driver combined. A total £4.7billion went on asylum support in 2023-24 — £3.1billion on accomodation. 13 migrants jumped from the back of a lorry at a Sainsbury's distribution centre in South East London The rest went on grants to local authorities, running sites like the disused Bibby Stockholm barge in Dorset, plus £49-a-week subsistence allowance. The £4.7billion total was up from 2022-23's £3.6bn. Nearly 15,000 people have crossed to Dover in 2025, up 42 per cent on this time year. French cops, given £480million of UK taxpayer cash, are failing to intercept them.
