Vivendi, Amber Capital in deal to seek board seats at French group Lagardere

PARIS (Reuters) – Media conglomerate Vivendi (VIV.PA) and investment firm Amber Capital – the two largest shareholders in French media group Lagardere (LAGA.PA) – said they had formed a pact to seek boardroom seats at Lagardere.

“Despite their divergent views, and after the very poor results announced by Lagardère a few days ago, Vivendi and Amber Capital have decided to sign a pact,” Vivendi said in a statement on Tuesday.

“Vivendi and Amber Capital, respectively the first and second largest shareholders of Lagardère with 23.5% and 20% of the share capital, will initiate steps in this framework with Lagardère to each seek a minority Supervisory Board representation of three members for Amber Capital and one member for Vivendi,” added Vivendi.

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