Bolloré Family Faces Critical Court Decision on Vivendi Control

France's Cour de Cassation is set to rule on whether the Bolloré family must offer a buyout to Vivendi's minority shareholders, following accusations of exercising 'de facto control.' The decision hinges on interpreting French stock market rules and could lead to a multibillion-euro offer if unfavorable for Bolloré.

In a landmark case, France's top civil court, Cour de Cassation, is poised to deliver a decision that could compel the Bolloré family to make a substantial buyout offer to minority shareholders of Vivendi.

The ruling stems from a dispute started during Vivendi's 2024 restructuring which saw the spin-off of its Canal+, Havas, and Louis Hachette arms. While the restructure was widely supported, certain minority shareholders allege it disproportionately bolstered the Bolloré family's influence, leading to this pivotal legal challenge.

The case could result in one of France's largest buyouts since the nationalization of EDF. Depending on the court's decision, costs will range between 6 and 9 billion euros. Alternatively, an opposing verdict could lead Bolloré to consider significant asset sales to comply with obligations.

(With inputs from agencies.)