One of the biggest individual shareholders in Vivendi Universal, the French media conglomerate, is poised to sell his €2.2bn ($1.9bn) stake, according to analysts.
Charles Bronfman, the uncle of Vivendi's vice-chairman Edgar Bronfman, is set to cash in on his 3.1% holding in Vivendi if the share price climbs much above €70. Vivendi's share price is €65.3, having recovered from a low of €59.8 in mid-July, but it was above €70 as recently as the beginning of July. One analyst who covers the stock said: "If it hits the low 70s, there will be a very high risk of him selling at that price."
