November 28, 2024 08:19 GMT
COMMUNICATIONS: Minority Vivendi Shareholder Seeks To Delay Meeting
COMMUNICATIONS
VIVFP
Not unusual given concerns around the deal and prior lodging of appeals; the granting of the delay wouldn’t change much with both the legal case and the regulatory case progressing quickly. Bond priced muted.
- A Vivendi press release indicates that CIAM (0.025% stake) seeks to delay the 09 Dec shareholder meeting by today filing an interim injunction with the President of the Paris Commercial court.
- The cite pending legal outcomes of their cases with the Paris Commercial Court (heard on an expeditive basis with a hearing scheduled for 04 Dec) and their appeal against the AMF ruling that the deal does not meet the threshold for a mandatory buyout offer.
- Vivendi note that proxy firms ISS and Glass Lewis have backed the spin-off.
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