Vivendi Says Shareholder Qatar Holding Raised its Stake to 2%
Vivendi SA (VIV), owner of the world’s largest music and video-game makers, said Qatar Holding raised its stake in the company to 2 percent, as the Persian Gulf country invests more in French companies.
Vivendi rose as much as 2.7 percent after the Paris-based company said in its annual report that Qatar Holding, founded by sovereign fund Qatar Investment Authority, acquired 5.6 million Vivendi shares to boost its stake as of February 29 from the 1.55 percent it owned at the end of 2011. The stake is worth about 354 million euros at the stock’s recent price.
Shares of Vivendi traded 1.4 percent higher at 14.19 euros as of 11:18 a.m. in Paris.
Vivendi was not immediately able to comment. A spokesman for Qatar Holding could not be reached by phone for comment.
Vivendi’s annual report also showed Chief Executive Officer Jean-Bernard Levy’s total compensation was raised 10 percent to 4.46 million euros in 2011, including the value of stock options as of Dec. 31.
The CEO has forecast a profit decline through 2013 as the French mobile-phone unit SFR faces tougher competition and falling prices at home.
Levy’s total 2011 compensation was worth 3.85 million euros based on the value of Vivendi shares on March 13, the report also said.
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