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Name | Symbol | Market | Type |
---|---|---|---|
Vivendi SE (PK) | USOTC:VIVHY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 12.00 | 11.93 | 11.95 | 9 | 14:38:06 |
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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