Vivendi: Paris Court of Appeal Rules Vincent Bolloré and Bolloré SE Do Not Exercise Control
The Paris Court of Appeal has ruled that Vincent Bolloré and Bolloré SE do not exercise control over Vivendi SE as defined by Article L.233-3 of the Commercial Code. This decision confirms the analysis of the Court of Cassation, which had partially annulled a previous ruling by the Paris Court of Appeal in November 2025.
Court Validates the Absence of Control by Vincent Bolloré and Bolloré SE
The Paris Court of Appeal, convened in a different composition, ruled on the issue of control over Vivendi by Vincent Bolloré and Bolloré SE. According to the decision, neither Vincent Bolloré nor Bolloré SE exercise control over the group as defined by Article L.233-3 of the Commercial Code. This decision follows the ruling of the Court of Cassation on November 28, 2025, which had partially annulled an earlier decision of the Paris Court of Appeal dated April 22, 2025. The high magistrates had then considered that the Court of Appeal had committed a violation of the law by wrongly interpreting the exercise of control by Vincent Bolloré and Bolloré SE.
Composition of Vivendi's Portfolio
Vivendi has established itself as a player in content, media, and entertainment, bringing together a portfolio of both listed and unlisted assets, each a leader in its market. The group owns 100% of Gameloft, a multi-platform video game publisher, and 100% of V Collection, which aims to become a reference in luxury media and cultural content in France and internationally. Vivendi also holds minority stakes in several listed companies: Universal Music Group and Banijay Group in content and entertainment, MediaForEurope and Prisa in media and telecommunications. The group also has interests in publishing and travel retail through Lagardère, as well as in publishing with Prisma Group.
