Bollore Set to Exit Mediobanca Shareholder Agreement

   By Donato Paolo Mancini 
 

Bollore SA (BOL.FR) is exiting a shareholders' agreement with Mediobanca SpA (MB.MI) early as it increases its shareholding in Vivendi SA (VIV.FR), the bank said Thursday.

The so-called shareholder agreement prevents shareholders from selling or transferring their stakes while being parties to the pact. Bollore is the Italian bank's second-biggest shareholder, according to the most recent data available on Mediobanca's website.

Bollore explained in a letter that after nearly 20 years as a party to the agreement, Bollore will exit the pact effective Jan. 1, 2019, the bank said, without specifying when the original agreement was set to terminate.

According to Mediobanca, Bollore cited its increasing financial commitment to Vivendi, its share of which has increased to 26.2% from 20.6% over the past twelve months.

Bollore said it intends to retain ownership of the interest, albeit no longer under the terms of the agreement, Mediobanca said.

Write to Donato Paolo Mancini at [e-mail]; @donatopmancini

(END) Dow Jones Newswires

September 27, 2018 02:53 ET (06:53 GMT)

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