US buy-out firm squares up to Vivendi

Sebastian Holdings, a US private equity activist, has reportedly bought a 2.5% stake in Vivendi Universal to push the French media group into selling its telecoms businesses. The holding makes it the company's largest individual shareholder.

French newspaper La Tribune reports that Sebastian has joined forces with Iranian investor Amir Jahanchani to buy the stake.

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JPMorgan to Pay $330 Million Over 1MDB TransactionsExternal link

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