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Vivendi to consider SFR spin-off, names Bollore vice-chair
2013-09-12 10:07:00| Telecompaper Headlines
(Telecompaper) Vivendi's supervisory board has decided to commission a study into splitting the group into two companies, both based in France. The first would be an international media group comprising Universal Music, Canal Plus and GVT, covering music operations worldwide, TV in France Africa, Poland and Vietnam, TV and film production, and broadband and associated services in Brazil. Under the plan under consideration, French mobile and broadband operator SFR would be spun off as a separate company. A final decision regarding the demerger could be taken at the start of 2014 and submitted to the 2014 shareholders' meeting. Vivendi's supervisory board feels that the move would create significant value to shareholders, giving them the opportunity to invest in two clearly differentiated groups evaluated according to the specifics of their respective sectors. To prepare this new organisation, Jean-Rene Fourtou, chairman of the supervisory board, proposed the appointment of Vincent Bollore as vice chairman of the supervisory board.
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Category:Telecommunications