FILE PHOTO: The logo of Vivendi is pictured at the main entrance of the entertainment-to-telecoms conglomerate headquarters in Paris, France, April 22, 2021. REUTERS/Gonzalo Fuentes
PARIS (Reuters) -Shareholders in Vivendi applauded on Tuesday the French media giant's plan to spin off its $39 billion Universal music business, underpinning Vincent Bollore's grip on the group and ignoring concerns expressed by several funds.
Bluebell Capital Partners and investment fund Artisan Partners said the transaction was unfavourable to some investors, setting the stage for what could have been a standoff between the French tycoon and some minority shareholders.
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