Vivendi Takeover by Bollore Less Likely After Court Rules in Favor of Billionaire

A French court overturned a ruling that the family of Vincent Bollore had de facto control of Vivendi VIV -0.04%decrease; red down pointing triangle, quashing investor hopes that the billionaire might be forced into a full takeover of the media group following its four-way spinoff last year.

The country’s highest court said Friday that a lower appeals court had made an error in ruling that the family’s namesake Bollore holding company exerted de facto control over Vivendi.