Shareholders approve breakup of Bollore's Vivendi media conglomerate [Yahoo! Finance]
VIVENDI SE UNSP/ADR (VIVHY)
NASDAQ:AMEX Investor Relations:
vivendi.com/en/investment-analysts
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Source: Yahoo! Finance
the breakup backed by the Bollore family, aiming to spin off Canal+, Havas and Louis Hachette Group despite some market scepticism and opposition from minority shareholders. The motions received support from over 97% of the votes, a resounding win for the Bollore clan. A two-thirds majority was required to validate the split during an extraordinary general meeting in Paris. The approval came amid protests against the breakup outside the venue, leading to the deployment of the CRS, the French police's specialist crowd-control unit. More than 100 organisations formed an action campaign called "Disarm the Bollore Empire," alleging that billionaire Vincent Bollore was using media to promote France's far right. Yannick Bollore, chairman of Vivendi's supervisory board and Vincent's son, dismissed such allegations at the shareholders meeting. Vivendi's broadcasting division Canal+ will be listed in London but headquartered in France, advertising agency Havas will float in Amsterd
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