The activist investor who is now chairman of the media concern will have also doubled the voting rights it holds in Vivendi by April 20, 2017.
“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,” the Bolloré Group said in a statement released Monday.
Under Bolloré, Vivendi has grown its share in Telecom Itala and re-entered the video gaming market through its acquisition of Ubisoft Entertainment.
However, questions remain as to the health of Canal+. The one-time talisman for the pay-TV business has suffered subscriber erosion and plans to shore up the operation through tie-ups with BeIN Sport have been thwarted by the competition authorities.