Court Bailiff Tries to Raid Vivendi Offices
Published on: 3rd Apr 2014
Note -- this news article is more than a year old.
By: Ian Mansfield
France's Vivendi has confirmed that a Bailiff attempted to enter into its offices to gain access to certain documents relating to the SFR sale.
The Bailiff was sent by Ms. Colette Neuville, who heads an association defending the rights of minority shareholders, and is seeking more information about Vivendi's plans to sell its SFR mobile network subsidiary.
The company refused to let the Bailiff in, and said in a statement that considering the "extravagant nature of this procedure", its lawyers will apply to a judge for a summary judgment.
Vivendi is currently in exclusive talks with Altice controlled Numericable to sell its SFR mobile network, although the other suitor, Bouygues Telecom has since raised its offer and confirmed that the offer will remain available once the exclusivity period ends.
Ms. Neuville has complained that Vivendi should publish details about both offers in full and that it didn't have sufficient information when it entered into exclusive talks with Altice.
After being rebuffed by the company, she sought a court order to seize the documents from the company.
She is currently considering how to respond to the company's determination to seek a summary judgment blocking the Bailiff.