Bollore Increases Stake in Vivendi To More Than 20%
October 10 2016 - 2:17AM
Dow Jones News
By William Horobin
PARIS--French billionaire Vincent Bollore has increased his
stake in media conglomerate Vivendi SA (VIV.FR) via his
family-controlled Bollore SA (BOL.FR) group.
The Bollore company said Monday that its stake in Vivendi--whose
assets range from Universal Music Group to a holding in Telecom
Italia--had risen over the 20% threshold.
Bollore crossed the threshold after unwinding hedging and
financing operations, buying call options on Vivendi shares in
addition to other financing facilities. With the benefit of double
voting rights, Bollore expects to hold around 29% of the voting
rights in Vivendi shares on April 20 next year.
"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,"
Bollore said.
-Write to William Horobin at william.horobin@wsj.com
(END) Dow Jones Newswires
October 10, 2016 03:02 ET (07:02 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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