Legal Battle for Control: Bolloré Family's High-Stakes Vivendi Showdown

France's highest civil court is set to rule on a case that could force the Bolloré family to buy out minority shareholders of media giant Vivendi. The case hinges on interpretations of control and shareholder influence, with potential implications for corporate governance in France.

France's highest civil court deliberated on a crucial legal case involving the Bolloré family and media conglomerate Vivendi. This dispute could compel the billionaire family to purchase minority shares worth billions, depending on the court's interpretation of shareholder influence and control.

The lawyer for Vivendi argued that previous appeals expanded interpretations of control unjustly. Meanwhile, Bolloré's representative contended that their influence had been overstated and urged the Cour de Cassation to adhere to established legal definitions. The conflict centers on whether the family's control exceeds its 29.9% voting stake.

The ruling, expected Friday, could redefine corporate governance in France. If the court rules against Bolloré, it might lead to mandatory buyouts, heavily influencing the family's financial focus. However, the outcome remains uncertain, with potential appeals extending to the European Court of Human Rights.

(With inputs from agencies.)