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The Autorité des Marchés Financiers (AMF) takes note of the Paris Cour of Appel’s ruling in the Vivendi SE case
The Autorité des Marchés Financiers (AMF) takes note of the Paris Cour of Appel’s ruling in the Vivendi SE case
In a ruling of 8 July 2026, the Paris Cour of Appel rejected Ciam Fund's contention that Vincent Bolloré and Bolloré SE exercise control Vivendi SE within the meaning of Article L. 233-3 of the French Commercial Code.
This ruling, which is not yet final, is consistent with the position made public by the AMF on 13 November 2024 whereby the Authority had determined that Article 236-6 of its General Regulation, which provides for the obligation to launch a buyout offer (offre publique de retrait), was not applicable in the absence of such control.
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The Autorité des Marchés Financiers takes note of the Cour de Cassation ruling in the Vivendi SE case The Autorité des Marchés Financiers takes note of the Cour de Cassation ruling in the Vivendi SE case
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