HELSINKI: Vincent Bollore’s investment company is increasing its stake in Vivendi SA to more than 20% as the billionaire tightens his grip over the French media conglomerate.
Bollore Group is set to hold about 29% of voting rights in Vivendi by April 20, 2017, taking into account the double voting rights attached to the shares it is acquiring, according to a statement.
Bollore Group, based in Puteaux, France, held about 15% of Vivendi as of June.
The activist investor, who became chairman of Vivendi in 2014, is cementing his control as he seeks to expand Paris-based Vivendi’s business beyond music, film and television.
Under Bollore, Vivendi has accumulated a stake in Telecom Italia SpA and re-entered video gaming by acquiring Gameloft SE and buying a stake in Ubisoft Entertainment SA.
Bollore Group is raising its Vivendi stake through several transactions, including an acquisition of call options and maturing of a share loan agreement, the company said.
“These operations reflect the confidence the Bollore Group has in Vivendi’s potential for development and its willingness to remain as reference shareholder of the company in the long term,” the company said. – Bloomberg
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