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Vivendi confirms SFR spin-off, Bollore to become chairman

2013-11-27 09:42:00| Telecompaper Headlines

(Telecompaper) Vivendi has confirmed plans to separate its telecom operations from the media and content activities and agreed to name 5 percent shareholder Vincent Bollore its next chairman. Bollore, who is already vice-chair of the supervisory board, will take over from Jean-Rene Fourtou as chairman of the supervisory board after the company completes its demerger plan sometime in the second half of 2014. The demerger plan is expected to take the form of a distribution of SFR shares to Vivendi shareholders. It would offer them the opportunity to invest in two separate vehicles listed on the stock market and valued according to the specifics of their respective sectors, the company said.

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