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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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Vivendi board validates spin-off plan

2013-11-27 01:00:00| Total Telecom industry news

French firm takes next step on road to spinning off mobile business SFR.

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Vivendi approves plan to spin-off SFR

2013-11-26 17:10:39| Digital TV News

Vivendis Supervisory Board has validated the groups planned demerger. Based on the analysis submitted, this plan could take the form of a distribution of SFR shares to Vivendi shareholders on the day of the transaction.

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Vivendi reports flat sales, lower profit in Q3

2013-11-15 08:59:00| Telecompaper Headlines

(Telecompaper) French media and telecom group Vivendi reported EUR 5.35 billion of revenue in the third quarter, compared to EUR 5.34 billion in the third quarter of 2012. Sales were driven by 18.5 percent growth to EUR 1.16 billion at Universal Music and a 6.8 percent increase to EUR 1.26 billion at Canal Plus, offset by lower sales at its other core operations, French operator SFR and Brazilian operator GVT. Group EBITA decreased 27.9 percent to EUR 587 million from EUR 814 million. Only Universal Music saw EBITA growth, of 36.6 percent to EUR 112 million, while EBITA at SFR declined by 37.8 percent to EUR 334 million. Vivendi's adjusted net profit fell by 14.8 percent to EUR 403 million from EUR 473 million. The group confirmed its annual targets and said it would continue looking at splitting its telecom and media assets.

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