Latest news with #VincentBolloré
Mint
4 days ago
- Business
- Mint
Vivendi Hit by EU Chargesheet for Closing Lagardere Deal Too Soon
(Bloomberg) -- Vivendi SE has been hit with a formal European Union complaint for allegedly closing its takeover of Lagardere SA before obtaining the green light from Brussels. The European Commission said Friday that 'Vivendi exercised decisive influence over Lagardere before the transaction was notified to the commission.' The issuing of a so-called statement of objections could pave the way for future fines of as much as 10% of their combined sales. 'Any potential breach of these rules is a serious matter that must be carefully investigated,' Teresa Ribera, the EU's antitrust chief, said in a statement. 'In this case we are concerned that Vivendi implemented the acquisition of Lagardere before it was legally allowed to do so.' The EU's executive arm takes a dim view of so-called gun jumping — closing a deal before getting blessing from EU regulators — by firms and sees it as a direct attack on its merger review system. It had first started examining potential shortfalls by Vivendi in this regard in June 2023. The regulator also previously took aim at Illumina Inc. and cancer-test provider Grail Inc. for moving ahead with their deal without getting a nod from watchdogs — the merger was eventually ditched amid heavy regulatory scrutiny. Vivendi said in a statement that it 'denies the allegations' and 'will thoroughly review the statement of objections and respond with detailed arguments, with the aim of being cleared of all allegations and securing the closure of the investigation.' Despite the EU's escalation, in 2023 the firm won conditional approval for its takeover of its rival publisher after committing to a 'substantial remedy package.' This included the 'full divestment' of its publishing business, Editis, and a number of units, including publishers such as Robert Laffont, Le Robert and Pocket. The selloffs also encompassed Vivendi's celebrity press magazine Gala, published in France. Earlier on Friday, Vivendi SE surged after France's market regulator ruled billionaire Vincent Bolloré and the eponymous company he controls must make a public offer for shares within six months. The regulator said Bolloré should make a bid for shares of what remains of the original Vivendi, still listed in Paris after last year's breakup of the company. Lagardere is now part of Louis Hachette Group, one of the units split from the conglomerate. (Updates with company comment and French markets regulator's separate decision starting in sixth paragraph) More stories like this are available on
Mint
4 days ago
- Business
- Mint
French Markets Regulator Orders Vivendi Withdrawal Offer
(Bloomberg) -- France's markets regulator ruled that Bolloré SE and Vincent Bolloré are required to make a public withdrawal offer on Vivendi SE in the next six months, in a blow to the media billionaire who controls the company. The Autorité des Marchés Financiers stated on Friday that last year's breakup of Vivendi SE into four parts should have triggered an offer to all stakeholders to buy back their shares. Since the company is now split, the offer must be provided to shareholders in the remainder of Vivendi, which has a market value of €3.24 billion ($3.8 billion), it said. The ruling favors activist investor group CIAM, which had argued the splintering of Vivendi gave preferential treatment to top shareholder Bolloré SE over the interests of minority shareholders. If enough shareholders accept the offer, the company may delist. Vivendi's breakup has been one of the biggest and most surprising shake-ups within the Bolloré empire to date. It was billed as a way to reduce Vivendi's so-called conglomerate discount and increase Bolloré's control over his empire. Representatives for Vivendi SE did not immediately respond to a request for comment. Vivendi shares jumped 7.8% at 10:00 a.m. in Paris on Friday. Vivendi trades in Paris. Pay-TV arm Canal SA now trades in London, advertising agency Havas NV in Amsterdam and publisher Louis Hachette Group in the French capital. In April, a Paris court 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 overturned a decision last November by the markets regulator. The media tycoon has appealed the April decision and any public withdrawal offer won't be closed until the appeal's outcome is known. More stories like this are available on
Yahoo
4 days ago
- Business
- Yahoo
Vivendi stock rises as AMF requires buyout offer for minority shareholders
(Reuters) -Shares in Vivendi rose by up to 12.5% in early trade, on Friday, after the French financial regulator, or AMF, said majority shareholder Vincent Bolloré and its holding company Bolloré SE would have to launch a public buyout offer. The AMF said Vincent Bolloré and its holding company will have to file a squeeze-out offer within six months, requiring it to buy all the shares owned by minority shareholders to delist Vivendi from the stock exchange. The process will only close after the French Supreme Court rules on pending appeals, it said.
Reuters
4 days ago
- Business
- Reuters
Vivendi stock rises as AMF requires buyout offer for minority shareholders
July 18 (Reuters) - Shares in Vivendi ( opens new tab rose by up to 12.5% in early trade, on Friday, after the French financial regulator, or AMF, said majority shareholder Vincent Bolloré and its holding company Bolloré SE ( opens new tab would have to launch a public buyout offer. The AMF said Vincent Bolloré and its holding company will have to file a squeeze-out offer within six months, requiring it to buy all the shares owned by minority shareholders to delist Vivendi from the stock exchange. The process will only close after the French Supreme Court rules on pending appeals, it said.
Yahoo
17-06-2025
- Business
- Yahoo
Compagnie de l'Odet : Combined General Meeting of June 17, 2025
PRESS RELEASE June 17, 2025 Combined General Meeting of June 17, 2025 ALL THE RESOLUTIONS WERE ADOPTED BY MORE THAN 99% DIVIDEND UP 10% The Combined General Meeting of Compagnie de l'Odet was held on June 17, 2025, chaired by Vincent Bolloré. 92.49% of the capital took part in the voting. All the resolutions submitted to the Combined General Meeting were approved by between 99% and 100%. Among the resolutions put to the vote at the Combined General Meeting of June 17, 2025, shareholders approved the renewal of the directorships of Gilles Alix, Cyrille Bolloré, Sébastien Bolloré, Vincent Bolloré, Yannick Bolloré, Ingrid Brochard, Cédric de Bailliencourt, Hubert Fabri, Janine Goalabré, Lynda Hadjadj, Valérie Hortefeux, Alain Moynot and Martine Studer. The dividend of 4.40 euros per share, up 10% on the dividend paid in 2024, will be paid on June 26. Attachment Communiqué AG 2025 Odet 2025-06-17_ANG
