FINANCIAL NEWS

Qatar Holding increases stake in Vivendi to 2%

22 Mar 2012

(MENAFN) State-run Qatar Holding agreed to increase its stake in French media giant Vivendi, as part of Qatar’s buy outs drive in France and Europe, Arabian Business reported.

The company increased bought 5.6 million shares in the media conglomerate for an estimated USD468.81 million, increasing its stake to 2 percent from 1.55 percent it previously held.

Qatar Holding now owns 16.82m of the shares, giving it just over 10 percent of voting rights in the group and making it the largest shareholder in the firm.

Qatar Holding said in a regulatory filing it could raise the stake further after increasing it to 12.8 percent and may seek representation on the group’s supervisory board.

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