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The French content, media and communications group Vivendi becomes Lagardère Group’s largest shareholder with a stake of 21.19%. It is ahead of the British fund Amber Capital by 1.26% or 19.93%.
Vivendi, controlled by billionaire Vincent Bolloré, has further increased its stake in the capital of the Lagardère group and crossed the 21.19% threshold, becoming its largest shareholder ahead of the activist fund Amber Capital.
At the end of April this year, the communications giant revealed in a declaration to the Autorité des marchés financiers (AMF) that it had acquired 10% of the company and that it planned to continue to increase its stake in the capital of the group, which is present in the media, publishing and airport shops.
In addition, Vivendi stated that it did not intend to take control of the Lagardère group, but was considering “applying for one or more seats on Lagardère’s supervisory board”.
The group justifies this request by referring to the “uncertain nature of the changes announced on May 25”, when Groupe Arnault took approximately 25% of Lagardère Capital & Management (LCM), Arnaud Lagardère’s personal holding company.
“We have every confidence in Bernard Arnault’s ability to ensure the development of the Lagardère group and are pleased to invest alongside him in this group,” a Vivendi spokesman told Reuters on Wednesday.
Read also > THE GROUPE ARNAULT TAKES ABOUT A QUARTER OF THE CAPITAL OF ARNAUD LAGARDÈRE’S PERSONAL HOLDING COMPANY
Featured Photo : © Vivendi[/vc_column_text][/vc_column][/vc_row]
