Qatar becomes 2% shareholder in Vivendi

Qatar’s sovereign wealth fund has become a 2% shareholder in Vivendi after investing over €350 million over in the French media and telecom giant over the past few months, according to local reports.

Qatar held 25 million Vivendi shares at the end of February, making it the ninth largest shareholder in the group.

Vivendi is the majority owner of Canal Plus, which is currently facing Qatari-owned Al Jazeera as a competitor after the latter’s acquisition of French and international football rights.

French conglomerate Bolloré, which currently holds 1.1% of Vivendi’s shares, will increase its stake to 2.9% after the acquisition of channels Direct 8 and Direct Star by Canal Plus, for which it will receive 22.4 million Vivendi shares.