What Profundo did in their report is explain the relationships behind Socfin’s operations in a very clear and pedagogical manner. We see better than in other documents, for instance, that the Bolloré group’s participation is not limited to its direct 39% holding of Socfin. The French group also holds 22% of Socfinasia and 8% of Socfinaf which are both majority-owned by Socfin (which is, again, co-owned by Bolloré).

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