The French Financial Markets Authority took note of the Paris Court of Appeal’s July 8, 2026 ruling rejecting CIAM Fund’s request to recognize Vincent Bolloré and Bolloré SE as controlling Vivendi SE under Article L. 233-3 of the Commercial Code, a non-final judgment that aligns with the AMF’s public position of Nov. 13, 2024 that Article 236-6 of its General Regulation on the obligation to launch a public buyout offer did not apply in the absence of such control.
France Autorite des marches financiers2026-07-09
French Financial Markets Authority notes Paris Court of Appeal ruling rejecting claims of Bolloré control over Vivendi SE
The French Financial Markets Authority noted a non-final Paris Court of Appeal ruling rejecting CIAM Fund’s claim that Vincent Bolloré and Bolloré SE controlled Vivendi SE. The ruling is consistent with the AMF’s Nov. 13, 2024 position that the obligation to launch a public buyout offer under Article 236-6 did not apply absent such control.