French industrialist Vincent Bollore has joined the supervisory board of Vivendi.
In October the Bollore Group took its stake in the French conglomerate beyond 5%, with chairman Jean-Rene Fourtou subsequently inviting Bollore to join the…
French industrialist Vincent Bollore has joined the supervisory board of Vivendi.
In October the Bollore Group took its stake in the French conglomerate beyond 5%, with chairman Jean-Rene Fourtou subsequently inviting Bollore to join the board.
Bollore, said to be in Vivendi for the long-term, has a reputation for turning around the fortunes of businesses. His Bollore Group, which has a wide-variety of interests, generated revenues of €8.5bn in 2011.
Bollore takes the seat of Jean-Yves Charlier who left the board in August to head up the group’s telecoms operations.
Vivendi is in the process of disposing its telecoms assets.
Its Brazilian telco GVT is the subject of at least three preliminary bids over €6bn while Vivendi is looking to raise €5.5bn from the sale of its 53% stake in Maroc Telecom.
Its other telco, SFR, is valued at around €13bn.
Vivendi reported net debt of €15bn at the end of Q3.
