Vincent Bollore, the largest shareholder of Vivendi and its new chairman, said the French company would face major challenges and powerful competitors as it seeks to become an integrated media group.

Bollore, who owns 5 percent of Vivendi, will be the key decision-maker as the company seeks to forge a coherent whole out of its three remaining businesses after selling off three units, including French telecom operator SFR, in a two-year overhaul.

"Vivendi's strategy is now clearly fixed," Bollore said in his first public remarks on the company since he became vice-chairman last year.

"It is to transform the company from a financial holding to an integrated company focused on content," he said.

Vivendi said Bollore was appointed chairman of its supervisory board on Tuesday.

Despite his outsized influence, the 62-year-old tycoon - famed for building a family-owned transport business in Africa and raiding blue-chip companies - has so far said very little about where he wants to take Vivendi.

That has left investors and analysts guessing about whether his intentions are to sell off the group in parts or seek to build something coherent.

Vivendi now owns the world's biggest record label, Universal Music Group, France's biggest pay-television operator, Canal Plus, and Brazilian broadband specialist GVT.

One thing is sure, Vivendi, one of France's largest companies, is expected to hit the acquisition trail late this year and next to seek growth.

People familiar with the situation earlier told Reuters that the group has up to 10 billion euros ($13.6 billion) to remake itself in media depending on how much debt it is willing to take on.