PARIS (Reuters) - Vincent Bollore, the current vice-chairman of Vivendi and its largest shareholder, said the company would face major challenges and powerful competitors as it seeks to become an integrated media group.
"VIVENDI (VIV.PA)s strategy is now clearly fixed," said Bollore, in his first public remarks on the company.
"It is to transform the company from a financial holding to an integrated company focused on content."
Bollore, who owns 5 percent of Vivendi, is expected to be voted in as the media conglomerate's new chairman at an ongoing annual meeting on Tuesday.
(Reporting by Leila Abboud; editing by Geert De Clercq)
