France's Top Court Overturns Ruling on Vivendi Control, Prolonging Buyout Case

France's Top Court Overturns Vivendi Control Ruling

Background

France's highest civil court has overturned a previous ruling that claimed the Bolloré family held de facto control over the media conglomerate Vivendi. The initial ruling had major implications for a multibillion-euro buyout dispute involving the group’s complex ownership structure.

Court Decision

The Court of Cassation decided to reject the earlier judgment, which declared that the billionaire Bolloré family effectively directed Vivendi’s strategic decisions. By annulling this decision, the court sent the case back to lower courts for further examination, leaving key questions on ownership unresolved.

Market and Regulatory Impact

The reversal delays ongoing regulatory and financial discussions surrounding Vivendi’s structure and potential obligations under French financial law. The company and its investors now face a longer period of uncertainty over shareholding and control issues.

“The ruling creates an extended legal debate over who truly holds command within Vivendi,” reported legal observers following the decision.

Outlook

Analysts expect that the case’s continuation will impact both Vivendi’s governance and any forthcoming acquisition or merger efforts. The market response remained cautious following the news.

Author’s summary: France’s top civil court overturned a judgment on the Bolloré family’s control of Vivendi, extending legal uncertainty over the group’s ownership.

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Reuters Reuters — 2025-11-29

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