Bolloré business empire under scrutiny as Vivendi court decision looms
A long-running legal battle over the French media group Vivendi has coincided with growing scrutiny of the Bolloré family’s wider business interests by anti-corruption groups.
Issued on: 27/11/2025 - RFI
The court battle of Vincent Bolloré's Vivendi media group coincides with broader scrutiny of the Bolloré group. © REUTERS - Charles Platiau
By:David Coffey
The case being heard at France's highest appeal court on Friday concerns whether billionaire Vincent Bolloré and his family exercised “de facto control” of the French media and entertainment conglomerate Vivendi during its breakup in 2024.
Investment group CIAM argued that the Bolloré family’s influence over Vivendi exceeded its headline shareholding of 29.9 percent. Under French law, passing the 30 percent threshold triggers a mandatory buyout offer to minority shareholders.
In April 2025, a Paris Court of Appeal decided that Vivendi’s own shares should be counted as effectively controlled by the Bolloré family, which pushed them over the line.
The court is now tasked with deciding whether that ruling still holds.
The case comes as several anti-corruption organisations have published reports or undertaken investigations relating to other aspects of the Bolloré group’s activities.
By:David Coffey
The case being heard at France's highest appeal court on Friday concerns whether billionaire Vincent Bolloré and his family exercised “de facto control” of the French media and entertainment conglomerate Vivendi during its breakup in 2024.
Investment group CIAM argued that the Bolloré family’s influence over Vivendi exceeded its headline shareholding of 29.9 percent. Under French law, passing the 30 percent threshold triggers a mandatory buyout offer to minority shareholders.
In April 2025, a Paris Court of Appeal decided that Vivendi’s own shares should be counted as effectively controlled by the Bolloré family, which pushed them over the line.
The court is now tasked with deciding whether that ruling still holds.
The case comes as several anti-corruption organisations have published reports or undertaken investigations relating to other aspects of the Bolloré group’s activities.
Scrutiny
Transparency International has highlighted the risks posed by concentrated ownership in the media sector.
According to the Euromedia Ownership Monitor, France has been experiencing "a significant level of concentration ... particularly through acquisitions by powerful players whose main activities are generally unrelated to the news media".
French billionaire Bolloré targeted in African ports corruption case
The French NGO Sherpa has been involved in cases concerning alleged corruption linked to the Bolloré group’s historic logistics operations in West Africa. Sherpa has filed complaints and produced reports on port concessions in Togo and Guinea, raising concerns about how those public contracts were awarded.
The NGO has also scrutinised the way certain cases were resolved through conventions judiciaires d’intérêt public – France’s corporate settlement mechanism – suggesting that such settlements can limit the public’s understanding of how influence may have been exercised, since they avoid a full trial.
While the Bolloré group denies any wrongdoing, Sherpa maintains these cases highlight the need for stronger mechanisms to ensure transparency and accountability in international commercial operations.
Transparency International has highlighted the risks posed by concentrated ownership in the media sector.
According to the Euromedia Ownership Monitor, France has been experiencing "a significant level of concentration ... particularly through acquisitions by powerful players whose main activities are generally unrelated to the news media".
French billionaire Bolloré targeted in African ports corruption case
The French NGO Sherpa has been involved in cases concerning alleged corruption linked to the Bolloré group’s historic logistics operations in West Africa. Sherpa has filed complaints and produced reports on port concessions in Togo and Guinea, raising concerns about how those public contracts were awarded.
The NGO has also scrutinised the way certain cases were resolved through conventions judiciaires d’intérêt public – France’s corporate settlement mechanism – suggesting that such settlements can limit the public’s understanding of how influence may have been exercised, since they avoid a full trial.
While the Bolloré group denies any wrongdoing, Sherpa maintains these cases highlight the need for stronger mechanisms to ensure transparency and accountability in international commercial operations.
Concern over working conditions
A separate line of investigation relates to the agri-business company Socfin, at which Vincent Bolloré was a major shareholder and board member for many years.
Several NGOs have published reports on land rights concerns, working conditions and environmental impacts associated with palm-oil plantations in Cameroon and several other African countries.
According to a report published by the Earthworm Foundation earlier this year, abuse allegations ranged from "coerced sex and labour violations on Socfin’s farms to land grabbing, forced evictions, restriction of villagers’ movement, destruction of sacred sites and the pollution of people's drinking water".
The Bolloré group maintains that it does not control Socfin.
The International Consortium of Investigative Journalists (ICIJ) adds another layer to the story, with entities linked to the Bolloré business network having appeared in leaked financial documents including the Panama Papers and LuxLeaks, mainly in relation to offshore holdings and tax structuring.
The ICIJ’s work does not imply direct wrongdoing but highlights a consistent theme that large corporate groups often rely on intricate ownership structures that can obscure where decisions are made and by whom.
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