Vivendi lost its fight against EU antitrust regulators on Wednesday as Europe's second-highest court agreed that they have the power to demand information related to the French publisher's 2023 Lagardere acquisition.
Our largest portfolio company, Samsung Electronics, outperformed in 2025 after underperforming in 2024. Samsung was awarded HBM qualification with NVIDIA in 2025 and ramped production quickly. South Korea is in the process of launching a broad set of reforms as part of its 'value-up' reforms modeled after the program in Japan.
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