Fabrice Vial, French entrepreneur and the majority shareholder of French superyacht yard Chantier Naval Couach, has been murdered on a yacht in Corsica.

Forty-three year-old Vial was shot in the back in the early hours of Friday morning while on a chartered 35m (115ft) Couach, Team VIP, moored in the bay of Porto-Vecchio.

The shot is believed to have been fired from another boat. French police have no clear leads so far.

Vial was not involved in the day-to-day running of Couach