PARIS (Europe) – French media conglomerate Vivendi increased stake in Lagardere from 10.6% to 13.36%.
Vivendi says it has no plans to buy full control of Lagardere. However, it reserved the right to continue to buy more shares in the conglomerate.
Lagardere fended off activist fund Amber Capital’s attempt earlier this week to replace the Lagardere supervisory board.
Lagardere aimed to strengthen its defences with new allies and investors arriving, including Vincent Bollore and his Vivendi group.
(Photo syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.