Qatar selling down stake in Vivendi

Qatar’s sovereign wealth fund has reduced stake in Vivendi, according to business news service BFMTV, which noted that Qatar Holding is no longer included in the French media giant’s list of principal shareholders.

Qatar Holding acquired a 1.55% stake in Vivendi in 2011, later augmented to 2%, a holding worth around €450 million. It had reduced its stake to 1.6% by the end of last year but has now disappeared from the list of principal shareholders, meaning that its remaining holding is less than 1%.

Vivendi confirmed to BFMTV that the fund was no longer included in its list of principal shareholders.

Qatar’s acquisition of a stake in 2011 coincided with the arrival in France of Al Jazeera-owned BeIN Sports as a rival to Vivendi-owned Canal+. BFMTV noted, however, that the intensity of the battle between the pair has eased over the last year.