MMB Lagardere SA

By Francois Schott and Mauro Orru

The Paris Court of Appeal rejected calls to hold an extraordinary general meeting for Lagardere SCA from shareholders Vivendi SE and activist investor Amber Capital.

Vivendi and Amber Capital, which according to FactSet respectively own stakes of 26.7% and 19.5% in the French media company, hoped to elect four representatives to Lagardere's supervisory board through a shareholders' meeting.

The latest ruling corroborated a decision from the Paris Commercial Court, which in October dismissed calls from the two shareholders for an EGM.

Lagardere said it "welcomes the decision announced today by the Paris Court of Appeal and reiterates its commitment to a constructive dialogue with all shareholders in the interests of the Group and all of its stakeholders."

This story was translated in whole or in part from a French-language version initially published by L'Agefi-Dow Jones.

Write to Francois Schott at fschott@agefi.fr and Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

December 17, 2020 07:26 ET (12:26 GMT)

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