Vivendi AGM backs plans for possible share buyback

Shareholders at Vivendi`s annual general meeting on Monday backed plans by the French media conglomerate for a possible share buyback that could give billionaire Vincent Bollore`s holding company greater control of Vivendi.

The Vivendi AGM also formally approved on Monday Vincent Bollore`s replacement on the board of Vivendi by his son Cyrille.

Bollore`s family holding company - Groupe Bollore - owns around 26 percent of Vivendi`s share capital and 28.5 percent of Vivendi`s voting rights.

Add Zee Business as a Preferred Source

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)