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Paris — Billionaire Vincent Bolloré is opening a rift with LVMH’s CEO Bernard Arnault by unexpectedly siding with activist fund Amber Capital over Lagardère to seek representation at the board of the struggling media group.

The move represents a new turn of events in a months-long battle triggered by Amber over Lagardère’s governance, led by the embattled group’s founder heir, Arnaud Lagardère...

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