Vivendi Investor Bollore Is Confident in Company’s Management
Billionaire Vincent Bollore (BOL) said he’s confident in Vivendi SA (VIV)’s management and described himself as a “nice” and “diligent” investor in the music, video-games and telecommunications company.
The French businessman owns 1.09 percent of Vivendi and is due to receive another 22.4 million shares on completing a deal to sell 60 percent of his television assets to Vivendi’s pay- television unit Canal Plus.
“I have great confidence in Jean-Rene Fourtou and Jean- Bernard Levy,” Vivendi’s chairman and chief executive officer, Bollore said. “I think they will fix their problems.” Bollore, chairman of advertising business Havas SA (HAV), was speaking today at that company’s annual shareholder meeting in Puteaux, France.
Faced with calls last month at Vivendi’s shareholder meeting to change managers and invite new members to the board, Fourtou said that there was “no reason” why Bollore shouldn’t join the company’s supervisory board if he wished.
Vivendi is considering an overhaul of its group structure that may lead to a breakup, people with knowledge of the matter said last month. As its French telephone unit SFR faces increased competition from discounter Iliad SA (ILD), Paris-based Vivendi has forecast an earnings slump through 2013.
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