By Joshua Kirby

Shares in French media group Vivendi fell Wednesday after a press report that a French court is set to rule in favor of the family of shareholder Vincent Bollore, likely putting paid to hopes for a full takeover by the billionaire investor.

Daily Le Monde reported Wednesday that France's Supreme Court will overturn another court's decision earlier this year in favor of minority shareholders who called for a review of the breakup of Vivendi into separate businesses. The court's decision is due Nov. 28. A decision in favor of Bollore will save the family between 6 billion and 9 billion euros ($6.95 billion-$10.42 billion) , according to estimates cited by Le Monde.

Vivendi didn't immediately respond to a request for comment.

Shares traded 12% lower at 2.54 euros, wiping out gains earlier in the year.

In July, France's market regulator set out a requirement for Bollore and his family holding to bid for full ownership of Vivendi, after the previous court ruling. Bollore currently holds around 30% of Vivendi's issued stock, according to FactSet.

Should the higher court overturn that decision, the chances of a takeover of Vivendi by Bollore would be "close to zero," AlphaValue analyst Alexandre Desprez wrote in a note to clients.

"We would suggest avoiding Vivendi as the discount to net asset value is not enough to offset the governance risks," Desprez said.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

November 19, 2025 10:43 ET (15:43 GMT)

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