Lagardère

""It turned out to be a resounding success," notes a slightly jealous Lagardère shareholder. "And above all, Vincent could not fail to notice that the three global publishing leaders are European-Bertelsmann, Pearson, and Hachette-which aligns well with his strategy of championing non-Anglo-Saxon media.""

"It must be said that the holder of the second greatest fortune in the world has enough to impress, even Bolloré, twenty times less endowed, according to Challenges' ranking. The latter acknowledges it with humor, when he says to those around him: "He is truly stronger than me. If I had invested the money I earned in LVMH stocks, I would be much richer...". However, the two billionaires started their journey almost at the same time, in the early 1980s, following very parallel paths, without almost ever crossing paths: they are only known to have one common investment, before Lagardère: the music channel Mezzo, acquired on a 50/ 50 basis by Les Échos (owned by LVMH) and Canal +, in July 2019. But for the rest, what similarities!"

"Here are two entrepreneurs who are also heirs; who have tremendously developed what they inherited, even though Férinel's real estate was in much better condition than Bolloré's papers; who each identified a sleeping beauty (Dior, within the Boussac empire, for Arnault, and Rivaud bank for Bolloré); who followed the advice of the same godfather in the Parisian establishment-Antoine Bernheim-to finance their rise to power; who ensured the construction of their empire through a very unusual blend of entrepreneurial aggression and ability to leverage new financial market instruments; who experienced both failures and windfalls (Gucci for Arnault and Bouygues for Bolloré); who moved into the new century without forgetting how to wield hostility (Hermès and Havas learned this to their detriment); who practiced financial engineering with incredible dexterity-Arnault increased his share of LVMH's capital from 38% to 46% in one day, crushing the Christian Dior holding, while Bolloré reached 27% in Vivendi, thanks in large part to the billions inherited from the opportune merger of the communication group with Havas; and who, finally, share the same dynastic ambition, a fierce determination to firmly establish this resolutely familial choice over time. In fact, it is the defense of family capitalism that is the cause of their joint presence in Lagardère's capital, and the potential source of a collision..."

"Today, Vivendi rather talks about the ambition to build a "European Netflix," an alternative to the Californian network that is colonizing the world. "But always focusing our investments towards the south and east, never towards the west," explains a member of the executive board, thus justifying the other masterstroke of 2021 after the takeover of Lagardère: the extraction of Universal Music under fantastic financial conditions."

""Once again, a fool goes to fetch the fox and opens the henhouse door for him, mocks a knowledgeable expert, both in the media and in the Bolloré method (see Chapter V). And not content with bringing him in, he divests himself of his limited partnership company, which protected the entire system, in exchange for a plate of lentils: by promising Arnaud to remain CEO of Lagardère for a six-year term, with all the related remuneration elements, Vincent removes the final obstacle to his control and can launch his takeover bid." However, it is not certain that, once the takeover bid is completed, the very stingy Bolloré will let Lagardère maintain its current lifestyle, estimated at 1 million euros per month in the company's accounts..."

"Lagardère, the heir, has been in trouble for two years with Amber Fund, which has been causing him trouble from London, fearing losing the majority of votes at its general assembly in the following May. Nothing fatal, as Lagardère is protected by a rare limited partnership status. But he may have to give up positions as directors that were previously de facto reserved for friends. Bolloré senses the "circumstance" and therefore takes "action": he acquires a 10% stake in Lagardère through Vivendi, which he controls."

"Investment in research and development of equipment and software positions Free as one of the most advanced operators in the implementation of innovative technological solutions. Over time, the group has become a recognized interlocutor of all major global equipment manufacturers such as Intel, Cisco, and Alcatel-Lucent. The brand image is so strong in France that the best French technicians fight to join its teams. With the emergence of the internet in the daily lives of the French, the number of access providers has multiplied. In addition to independent operators for local coverage, promising competitors with particularly strong support include Wanadoo from the France Telecom group, Club Internet supported by the German T-Online after being created by Lagardère, the Italian Tiscali, LDCom, and cable operator Noos."