Tsachy Mishal
@capitalobserver.bsky.social
A very big caveat is that I am far from an expert on French law
November 30, 2025 at 1:05 PM
A very big caveat is that I am far from an expert on French law
However, since the AMF never showed their math and it was never introduced as evidence all the high court could do is send it back so that it done properly
November 30, 2025 at 1:03 PM
However, since the AMF never showed their math and it was never introduced as evidence all the high court could do is send it back so that it done properly
Since ~70% of shares are voted at each annual meeting one must hold over 35% of shares to control the outcome. Bollore held just under 30% of shares and hence did not control the outcome
November 30, 2025 at 12:58 PM
Since ~70% of shares are voted at each annual meeting one must hold over 35% of shares to control the outcome. Bollore held just under 30% of shares and hence did not control the outcome
The high court goes on to clearly state how you determine control. If only voting rights can be considered and not other soft factors than one must hold the majority of the shares voted at the annual meeting.
November 30, 2025 at 12:57 PM
The high court goes on to clearly state how you determine control. If only voting rights can be considered and not other soft factors than one must hold the majority of the shares voted at the annual meeting.
The high court completely smacked down the logic of the court of appeals in concluding that Bollore controlled Vivendi. They listed the arguments and then said it is all wrong (they completely misinterpreted the law)
November 30, 2025 at 12:44 PM
The high court completely smacked down the logic of the court of appeals in concluding that Bollore controlled Vivendi. They listed the arguments and then said it is all wrong (they completely misinterpreted the law)
The first procedural mistake was that the AMF did not show the math on why Bollore did not control Vivendi
November 30, 2025 at 12:36 PM
The first procedural mistake was that the AMF did not show the math on why Bollore did not control Vivendi
What do you make of this?
November 28, 2025 at 9:03 PM
What do you make of this?
We already know they didn't hold a majority of voting rights so if this is the instruction than we know the outcome
November 28, 2025 at 1:40 PM
We already know they didn't hold a majority of voting rights so if this is the instruction than we know the outcome
"The top court issued guidance for the lower judges saying that Bolloré should be considered to have de facto control only if it can be shown that he held, directly or indirectly, at least a relative majority of voting rights for a significant duration"
November 28, 2025 at 1:39 PM
"The top court issued guidance for the lower judges saying that Bolloré should be considered to have de facto control only if it can be shown that he held, directly or indirectly, at least a relative majority of voting rights for a significant duration"
In a million years I would not have predicted that alcohol consumption would go down
November 28, 2025 at 12:00 PM
In a million years I would not have predicted that alcohol consumption would go down
And the fact it happened to a guy the government does not like and clearly the judge did not like makes it even worse
November 27, 2025 at 2:03 PM
And the fact it happened to a guy the government does not like and clearly the judge did not like makes it even worse
Regardless of the issue of whether Bollore controlled Vivendi, it seems insane to change the rules that everyone thought they were playing by. Especially, when the consequences are so huge. It's one thing to change the rules going forward
November 27, 2025 at 2:01 PM
Regardless of the issue of whether Bollore controlled Vivendi, it seems insane to change the rules that everyone thought they were playing by. Especially, when the consequences are so huge. It's one thing to change the rules going forward
Are there any documents from the arguments published by the court?
November 26, 2025 at 2:09 PM
Are there any documents from the arguments published by the court?
Would this money go to Lagardere or the EU?
November 22, 2025 at 3:02 PM
Would this money go to Lagardere or the EU?
If they lose what do you think the fine will be?
November 21, 2025 at 2:32 PM
If they lose what do you think the fine will be?
I'm just wondering because UMG has been weak. And it would make sense for Bollore to not want Vivendi to be levered if he is forced to buy them
October 25, 2025 at 1:36 PM
I'm just wondering because UMG has been weak. And it would make sense for Bollore to not want Vivendi to be levered if he is forced to buy them
So they would have been able to sell shares this quarter without reporting, unless they cross the next threshold?
October 25, 2025 at 1:34 PM
So they would have been able to sell shares this quarter without reporting, unless they cross the next threshold?
If Vivendi had sold shares of UMG but not crossed 10%, would they have to report anything?
October 25, 2025 at 1:05 PM
If Vivendi had sold shares of UMG but not crossed 10%, would they have to report anything?
Does that mean shitcos should bounce?
October 22, 2025 at 12:22 PM
Does that mean shitcos should bounce?
If Vivendi sold any assets during the quarter would it have been disclosed?
October 22, 2025 at 12:19 PM
If Vivendi sold any assets during the quarter would it have been disclosed?