A 14-year-old boy and five others have been arrested by police after £1.8 MILLION worth of steel plates were stolen from a business in Stockport on Monday (January 8).
22.12.2023 - 16:21 / variety.com
Elsa Keslassy International Correspondent In a comeback worthy of “Succession”‘s patriarch Logan Roy, French billionaire Vincent Bolloré has re-emerged from a fictive retirement to engineer a strategic overhaul of his listed media empire, Vivendi. After seemingly passing on the reins of Vivendi to his sons Yannick and Cyrille last year, Bolloré stepped back in with a plan to split the French conglomerate into three businesses – pay TV group Canal+, advertising banner Havas and an investment vehicle comprising Lagardere Group — that would each be listed separately at the Paris stock exchange.
The supervisory board of Vivendi has approved the exploration of this three-way split which, if pursued, will see the Vivendi brand disappear along with Bolloré’s initial “synergy” strategy which was his mantra when he became the conglom’s largest shareholder in 2012. News of the forthcoming shift has been greeted with enthusiasm as Vivendi’s stock valuation climbed by 10% to €9.98 per share.
In the last 10 years, Vivendi’s annual turnover fell from €29 billion to €10 billion after it divested high profile assets including Universal Music Group. But shareholders — which include Bolloré — have gotten richer in the process.
Bolloré scored a major coup by listing Universal Music Group and giving Vivendi shareholders ownership of 60% of the music powerhouse whose talent roster includes Taylor Swift and Drake. In its first day at the Euronext Amsterdam exchange, UMG’s shares skyrocketed by 39% to reach a valuation of nearly $53 billion.
A 14-year-old boy and five others have been arrested by police after £1.8 MILLION worth of steel plates were stolen from a business in Stockport on Monday (January 8).
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