A marked desire to renew 100 personal decisionAs any grant it is not economically viableIn both cases the IMF could contribute up to 50 of the aidMost will be also used and commercialized by the private sector We move forward on a very wide boulevardSpecifically AXA promised investors three thingsThis rebound could threaten the whole operation that are neutral with respect to the diversity of culturesApple body tag then approximately 29 millionWhat investors to remain on the defensiveFour years after the eviction of Jean-Marie Messier of the Presidency of Vivendi Universal, the direction of the group now led by Jean-Bernard Lévy be again under pressure at the General Assembly of shareholders provided this afternoon The question is, while a little cumbersome shareholder is invited to the capital in recent weeks. Alexander Vik, who heads the Fund investment Sebastian Holdings, and its two allies, the Iranian businessman Amir Jahanchahi and Belgian financial Benoît Jamar, will be in principle present at the AG. While they suggest they control approximately 4 of the capital of Vivendi, it is however not certain that they unveil their game.
Yet, Jean-Bernard Lévy and Jean-René Fourtou, the Chairman of the Supervisory Board would like well learn more about the intentions of the shareholders, they also met late March. These concerns are shared by other investors. Last month, Sebastian Holdings is, indeed, the first shareholder of Vivendi. But the company is in fact what is the actual weight of the Fund in its capital.
Support of Bolloré
On its website, it indicates that Sebastian Holdings held at March 31, 1.19 of the Vivendi shares, and in voting rights. This direct participation was valued yesterday around 380 million euros by the market. But the Fund may also make actions by friendly banks, allowing it to reach this level of 4. Another question for Vivendi leaders: representatives of Sebastian Holdings emerge finally wood to their liking The Group had no specific request, says the "Echos" Jean-Bernard Lévy (read below). Officially, its only requirement concerning the course of Vivendi, found insufficient. For some, his vision of the future of Vivendi would be more financial than industrial: he would like to transfers of assets in the short term SFR for example to allow shareholders to quickly recover outstanding dividends. Management opposed regularly an estoppel, arguing that the presence of the group in the media and telecommunications is only creator of value in the long term, and that it strengthens its investment capacity.
A personality who intrigues
The issues are not only financial or strategic. The personality of Amir Jahanchahi continues to intrigue: the man is not an unknown of the Paris financial community. Last year, support for last minute Vincent Bollore had been decisive in the takeover by the latter of the advertising group Havas. Amir Jahanchahi is also presented as a close to Claude Bébéar, the founder of AXA, but the direction of Vivendi refutes any link between the two men on this dossier, recalling that the same Claude Bébéar sits on the Supervisory Board of the group.
These questions will find answers at the General Assembly Not sure. "Nothing happens, they will come to listen, they do not count to speak and ask not seat on the Supervisory Board" ensures a close of Sebastian Holdings.
After a brief excitement on the title in March, speculation fell as fast as it was mounted. Financial markets seem today to bet on a battle around Vivendi. A 27,84 euros yesterday at the end, the action is located in a lower than it was before the arrival of Sebastian Holdings.
