French court blocks Messier's severance deal

Jean-Marie Messier, the former chairman and chief executive of Vivendi Universal, will not see a cent of his disputed €21m ($24m) pay-off until shareholders vote on it, French authorities have ruled.

The Paris High Court blocked the pay-off after the Commission des Opérations de Bourse, the French securities regulator, ruled that Messier did not go through the proper channels to get it approved.

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