Share buyback program authorised at media giant Vivendi’s AGM

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Shareholders have authorised a share buyback resolution that allows a reduction of up to 25% reduction in the share capital. The program was approved by shareholders representing 67.71% of Vivendi’s issued share capital. Investors and governance experts fear a risk of tightening CEO Vincent Bolloré’s grip on Vivendi. Groupe Bolloré owns 28.51% of the company’s voting rights and will be able to cross the 30% threshold without having to launch a takeover bid.

The Financial Times, Harris Agnew, April 16th 2019