Lagardere looked to have triumphed over agitation from activist shareholder Amber Capital this spring, when some leading French investors provided support to the company and its managing partner Arnaud Lagardere. Billionaire Vincent Bollore and Vivendi (which he controls) had bought shares in the company and voted to support Mr. Lagardere, and then Groupe Arnault bought a 25 percent stake in Lagardère Capital & Management from Mr. Lagardere. But last week Vivendi surprised French investors by switching sides and signing a “pact” with Amber in seeking to shake up Lagardere’s management and board. Citing “the very poor results announced” at the […]
