French mogul Vincent Bolloré increased his stake in Universal Music Group parent Vivendi to 20.4%, up from 15% previously. This increased shareholding (achieved through a mix of transactions, including cash unwinding, a share loan agreement and the acquisition of call options) will bring with it 29% of voting rights in Vivendi from April next year, when a new French law begins granting double voting rights for long-term shareholders.
This way Bolloré's opinion will be a key factor when making decisions that affect the future of UMG and sister companies including Canal+.
The Bolloré Group said in a statement:
These operations reflect the confidence the Bolloré Group has in Vivendi’s potential for development and its willingness to remain as reference shareholder of the company in the long term.
Universal is an extremely important subsidiary at the Paris company: in recorded music and music publishing alone (not including its film production efforts with the likes of AMY), UMG contributed 48% of Vivendi’s revenue in 2015.
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