Bollere stake in Vallourec reaches to 18.1 percent

Bollere stake in Vallourec reaches to 18.1 percent

According to latest industry reports, Bollore Group has increased its stakes in the tube maker Vallourec to 18.1% from 13.9%. The company has no legal obligation to declare its intentions in acquiring additional shares unless its total stakes exceeds 20%. 18.1% stake in Vallourec gives Bollore 16.3% of voting rights up from 12.5% at the end of January. Ballore has made a statement that the company has purchased 12.1% stake of French tube and pipe maker Vallourec in November 2002.