Paris' Court of Appeal ruled that Vincent Bolloré and Bolloré SE do not exercise control over Vivendi SE, removing for now the prospect of a mandatory buyout of the media group by Bolloré. Vivendi shares were down 10% at 0900 GMT after the decision. The case returned to the appeals court after France's top civil court in November quashed an earlier ruling that had ordered a buyout analysts estimated could cost 6 billion to 9 billion euros. The dispute stems from Vivendi's 2024 break-up, which minority investor CIAM said strengthened the Bolloré family's grip on the group even though Bolloré SE held 29.9%, just below France's 30% mandatory bid threshold.