French Appellate Court Clears Bolloré of Vivendi Control, Blocking Massive Buyout Order

The Paris Court of Appeal ruled that French billionaire Vincent Bolloré and his Bolloré SE holding company did not exercise control over media and entertainment giant Vivendi at the time of its 2024 corporate overhaul. The decision removes the threat of a mandatory buyout offer that analysts estimated could have cost between €6 billion and €9 billion, according to Variety, while Deadline reported the potential obligation at over $10 billion.

2 sources

DeadlineParis Court Rules Bolloré Does Not Control Vivendi, Averting Potential $10B Buyout ObligationVarietyFrench Court Rules Bolloré Did Not Control Vivendi, Averting Multi-Billion Buyout

"a contrary ruling could have triggered a mandatory buyout of Vivendi by Bolloré, potentially costing the group over $10 billion."

Deadline noted that the ruling followed a claim by minority Vivendi investor CIAM, which was sparked by the 2024 breakup that spun off Canal Plus and Havas. The court's decision is a significant legal victory for Bolloré, whose sprawling influence over French media through assets like CNews, Europe 1, and Hachette has drawn increasing scrutiny, Variety reported.

"The ruling is a significant legal victory for Bolloré, whose influence over France's media landscape through assets like CNews, Europe 1, and Hachette has faced increasing scrutiny."

Both outlets emphasized that the ruling averts a potentially costly buyout obligation for Bolloré Group, though the legal battle with CIAM may continue. The outcome solidifies Bolloré's ability to maintain his current holdings in Vivendi without triggering a full takeover of the conglomerate's remaining shares.