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Vivendi 5% Holder Bollore Seems Poised to Control Co.: Bernstein 2013-12-16 08:15:28.996 GMT
By Blanche Gatt Dec. 16 (Bloomberg) -- Vivendi’s appointment of Havas’ Herve Philippe as new CFO means co. could be “controlled” by 5% shareholder Vincent Bollore, Bernstein says in note. * Bernstein says Philippe will be seen as a “protege” of Bollore * Philippe is “low profile” and familiar to Bollore, which means Bollore is “effectively” in a position to control co. * Mkt would probably be “unhappy” if Bollore pushed for Vivendi to acquire Havas * Reiterates outperform, PT EU24 * 16 buys, 14 holds, 2 sells; avg. PT EU20 implies upside of 11%; shrs up 6% YTD: data compiled by Bloomberg * NOTE Dec. 13: Vivendi CFO Appointment Won’t Change Co.’s Direction: Liberum
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--Editor: Andrew Rummer
To contact the reporter on this story: Blanche Gatt in London at +44-20-7392-0351 or bgatt@bloomberg.net
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