Balanced News: Bollore sells Africa logistics arm to MSC shipping company

Operated by the family of billionaire Vincent Bollore, French conglomerate Bollore Wednesday completed the sale of its Bollore Africa Logistics arm to shipping company MSC Group. The group before the sale of its Africa logistics arm had been accused of corruption and illegal practices in a number of deals allowing it to secure port concessions in Africa. The Bollore company holds 29.5% of French media company Vivendi (VIV.PA) and roughly 18% of Universal Music Group (UMG.AS), as well as a small stake in Italian bank Mediobanca.