Vivendi

Vivendi shares plunged more than 10% after the Paris appeals court ruled that Vincent Bolloré and Bolloré SE do not exercise control over Vivendi and therefore are not currently required to make a mandatory offer. An earlier ruling had obliged Bolloré to submit an offer, which analysts had estimated at €6–9 billion. The court rejected the argument that Bolloré’s personal influence constituted control and limited the criteria for a mandatory offer to voting rights actually exercised. The dispute dates back to Vivendi’s 2024 split, brought by minority shareholder CIAM because Bolloré holds 29.9%, just below the 30% threshold. » More on de.investing.com

Vivendi reported a net profit of €20m for 2025 after a loss of €6,004m in 2024, driven mainly by the strong performance of gaming unit Gameloft. Revenue rose to €307m, EBITA improved to €45m, and net financial debt fell 42% to €1,501m thanks to sales of telecom stakes. Gameloft significantly increased its EBITA by focusing on PC/console franchises, while UMG still carries valuation risks after a drop in value. Vivendi proposes a dividend of €0.04 per share; the stock nonetheless fell slightly despite the results. » More on de.investing.com

Vivendi returned to profit in the second half of 2025, posting a net result of €20 million after losses in 2024. Revenue was €307 million and EBITDA €45 million; net financial debt fell 42% to €1.5 billion. Gameloft’s strong performance contributed to the recovery, and strategic disposals and cost‑reduction programs are expected to support further growth. Management proposes a dividend of €0.04 per share and is exploring M&A options in the gaming sector, but sees risks from UMG valuations and high competition in gaming. » More on de.investing.com

Vivendi’s shares swung sharply on Friday: they initially fell by almost 5%, then moved into positive territory and ended slightly down. The Court of Cassation overturned an earlier decision that had found Vincent Bolloré exercised control through significant authority over general meetings despite holding under 50% of voting rights. The ruling could prevent Bolloré from having to make a mandatory public offer to buy out other shareholders and adds uncertainty to the stock’s outlook. » More on de.investing.com

Vivendi shares came under pressure and fell further after the advocate general at the Court of Cassation recommended quashing a ruling that had attributed de facto control to Bolloré during the December 2024 break-up. The recommendation for cassation without remittal would remove the risk of a mandatory takeover offer by Bolloré and neutralize a previously estimated liability of €6–9 billion. The court will hear the case on 25 November and is expected to decide on 28 November; the opinion is not binding but is often followed. Analysts see a short-term burden for Vivendi and relief for Bolloré from the unwinding of risk-arbitrage positions. » More on de.investing.com