PARIS May 19 A French court on Monday cut from
three years to 10 months the suspended jail term handed to
former Vivendi chief executive Jean-Marie Messier in
his appeal against a 2010 conviction for misuse of corporate
In the ruling read out in court, a conviction of providing
misleading information to shareholders was dropped altogether,
and a fine against Messier reduced from 150,000 euros
($205,600)to 50,000 euros.
Messier, who now runs a boutique investment bank in Paris,
led Vivendi a decade ago during the heady days of the Internet
bubble. He became a symbol of corporate hubris when an
acquisition spree he spearheaded was followed by near bankruptcy
for the former utilities group.
He was convicted for misuse of corporate assets for seeking
to obtain a departure payout worth 18.6 million euros without
the prior agreement of the company's board of directors.
($1 = 0.7297 Euros)
(Reporting by Chine Labbe; Editing by Mark John, Andrew Callus
and Mark Potter)