Vincent Bolloré won a Paris ruling that could end up saving his company billions after judges backed his long-held claim that he didn’t control Vivendi SE before a split of the media conglomerate in 2024. The Paris court of appeals on Wednesday dismissed arguments brought by minority shareholder CIAM. It has argued that the split didn’t guarantee a better valuation for the assets and gave preferen...
Vincent Bolloré won a Paris ruling that could end up saving his company billions after judges backed his long-held claim that he didn’t control Vivendi SE before a split of the media conglomerate in 2024. The Paris court of appeals on Wednesday dismissed arguments brought by minority shareholder CIAM. It has argued that the split didn’t guarantee a better valuation for the assets and gave preferential treatment to the holding company. A lawyer for the activist fund, Julien Visconti, said CIAM will lodge a top court challenge. The spinoffs now trade in three countries — Vivendi and publisher Louis Hachette Group in Paris, pay-TV arm Canal+ SA in London and advertising agency Havas NV in Amsterdam. The matter of control through voting rights has been key through this legal saga. With just under 30% of Vivendi owned via the holding company, the Bolloré group has held 43.4% of voting rights on average in recent years, according to an earlier ruling in the dispute. The complex structure of the Bolloré empire has long frustrated some minority shareholders who believe making the organization more straightforward would unlock value. In June, Bolloré proposed to pay out €4.2 billion ($4.8 billion) of dividends to the shareholders of Bolloré SE, a decision that was approved at the general assembly in June. Most of the cash will stay within the group and its top shareholder, family holding Compagnie de l’Odet. The move spawned a slew of theories about the French billionaire’s endgame. Investors have long watched the company accumulate a cash pile, mostly thanks to its post-pandemic sale of legacy logistics and ports businesses, and assumed it was preparing for a transformational acquisition. Bolloré SE is now left with an industrial business that includes electric batteries and stakes in firms like Amsterdam-based Universal Music Group . What remains of Vivendi are stakes in various businesses also including UMG, with its main business being video game company Gameloft.
There's no magic formula for building wealth in the stock market other than persistently buying and holding shares of growing companies. But when the market gives you the chance to buy competitively positioned businesses at discounts, it can set up attractive points to buy shares. Shares of MercadoLibre (NASDAQ: MELI) and Axon Enterprise (NASDAQ: AXON) are both trading about 33% below their recent...
There's no magic formula for building wealth in the stock market other than persistently buying and holding shares of growing companies. But when the market gives you the chance to buy competitively positioned businesses at discounts, it can set up attractive points to buy shares. Shares of MercadoLibre (NASDAQ: MELI) and Axon Enterprise (NASDAQ: AXON) are both trading about 33% below their recent highs. These businesses still lead their respective markets of e-commerce and public safety technology. Here's why patient investors should do well with these stocks over the next decade. Continue reading
South Korean AI chip startup Rebellions plans to list its shares on the Korean stock market in the first half of next year before pursuing a potential U.S. listing, its co-founder and CEO Park Sunghyun told Reuters on Wednesday. The company plans to complete its IPO paperwork by the end of this year and go public in either the first or second quarter of next year, depending on market conditions. J...
South Korean AI chip startup Rebellions plans to list its shares on the Korean stock market in the first half of next year before pursuing a potential U.S. listing, its co-founder and CEO Park Sunghyun told Reuters on Wednesday. The company plans to complete its IPO paperwork by the end of this year and go public in either the first or second quarter of next year, depending on market conditions. JPMorgan will serve as the underwriter, Park said. "Our priority right now is Korea market," Sunghyun said. "Then you can go to U.S. market using the ADR just as how SK Hynix is planning," he added. Rebellions, backed by Samsung ( SSNLF ), SK Hynix ( HXSCL ) and a key fund from the South Korean government, is among a growing number of startups seeking to capture a share of the AI inference semiconductor market. Other companies are also looking to capitalize on the sector's momentum. Earlier this year, inferencing chip startup Cerebras Systems ( CBRS ) went public in the U.S. Meanwhile, SK Hynix, one of the world's largest memory chipmakers, is set to list shares on the Nasdaq this week to capitalize on investor appetite for memory chip stocks. The company is already listed in South Korea. More on Samsung Electronics, SK hynix Inc. SK Hynix: A Premier Asset Severly Discounted SK hynix's U.S. Listing Is A Game-Changer For The Memory Industry Wall Street Lunch: June Payrolls Miss Estimates, Jobless Rate Dips Samsung boots up mass production of advanced storage for Nvidia’s Vera Rubin AI platform Samsung eyes edge over Apple with new shorter, wider Galaxy Z Fold 8 in July