Kepler upgrades Vivendi ahead of ruling that could force buyout

Vivendi SE

01/06/2026 08:46

** Kepler Cheuvreux raises Vivendi VIV.PA to "buy" from "hold" ahead of a key court ruling next month that could compel the Bollore family to launch a buyout offer  
** France's Court of Appeal is due to rule on July 8, after a top civil court in November overturned a ruling that the Bollores exercised de facto control over Vivendi - a position that would have required a buyout of minority shareholders
** "We believe investors will increasingly assign credibility to a mandatory offer scenario," KC says
** Broker increases its TP by 12.5% to 2.70 euros, based on a 45% discount to net-asset value versus 50% previously 
** Vivendi up 2.3%, taking quarter-to-date gains to 35% 
** Of 9 analysts covering Vivendi, four rate the stock "strong buy" or "buy," ​four "hold" and one "sell" - LSEG data 

 (Reporting by Jakob Van Calster)
 ((jakob.vancalster@thomsonreuters.com))