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Loeb Builds Vivendi Stake at Crunch Time for Bollore’s Empire
- Activist has clinched better terms for investors in past deals
- French media group’s outlook less clear once music unit goes
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U.S. activist investor Dan Loeb has built a stake in Vivendi SE at a critical moment for French billionaire Vincent Bollore’s media group, with shareholders due to vote on plans to spin off the world’s biggest music company.
Two other activists, Bluebell Capital Partners and Artisan Partners, are already lobbying against Vivendi’s plan for separating Universal Music Group, saying it will lumber most shareholders with a heavy tax bill and needs to be organized differently.