A 0.025% shareholder is threatening to derail Vivendi’s General Shareholders’ Meeting on December 9.
CIAM filed the injunction Wednesday with the President of the Paris Commercial Court, with a hearing scheduled for December 4, 2024.
In a statement, Vivendi said CIAM was seeking to postpone the meeting until the Paris Commercial Court had heard a lawsuit on the validity of the spin off project. It is also awaiting an appeal against a decision that found the Bolloré Group does not meet the conditions for triggering a mandatory buyout offer for Vivendi in connection with the spin-off project.
Under the proposals Canal+, Havas and a company grouping the assets in publishing and distribution would become independent entities listed on the stock market.
In a statement, Vivendi said it believed it was essential to uphold shareholder democracy and reserves its right to seek financial compensation through the Courts handling CIAM’s actions.
