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Vivendi AGM backs plans for possible share buyback

Published 15/04/2019, 18:15
Updated 15/04/2019, 18:15
© Reuters. Vincent Bollore, Chairman and Chief Executive Officer of the Bollore Group and Cyrille Bollore, CEO and Vice-Chairman Managing Director attend the media group Vivendi shareholders meeting in Paris

PARIS (Reuters) - 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 (PA:VIV).

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.

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