Vivendi Takes Note of the Paris Court of Appeal’s Decision

Vivendi Takes Note of the Paris Court of Appeal’s Decision

Regulatory News:

Vivendi (Paris:VIV) takes note of the Paris Court of Appeal’s decision today which ruled that Mr. Vincent Bolloré and Bolloré SE do not exercise control over Vivendi SE within the meaning of Article L.233-3 of the French Commercial Code.

As a reminder, on November 28, 2025, the Cour de cassation (French Supreme Court) partially overturned the ruling of the Paris Court of Appeal on April 22, 2025, holding that it had, through a misinterpretation, violated the law in finding that Mr. Vincent Bolloré and Bolloré SE exercised control over Vivendi SE within the meaning of Article L.233-3, I, 3° of the Commercial Code. The Cour de cassation remanded the case to the Paris Court of Appeal, differently composed.

The Court of Appeal’s decision today therefore fully confirms the analysis of the Cour de cassation.