Bollore Sees Off Rival Billionaires to Build Publishing Giant
- French businessman secures control of media rival Lagardere
- Investors ponder whether deal is best use of music sale cash
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Arnaud Lagardere spent years trying to fend off suitors and cling onto the once sprawling media and manufacturing empire he inherited from his father. In the end, his defense only cemented the fall of a French corporate icon.
The price he paid to fight off an activist shareholder campaign was to welcome in billionaire Vincent Bollore as a major investor. Bollore, 69, has now turned poacher and is set to win control of Lagardere, creating a launchpad for more media acquisitions across Europe.