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Vivendi moves toward SFR spinoff

2013-09-12 02:00:00| Total Telecom industry news

French conglomerate could decide on separation plan by beginning of 2014.

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Bollore wants Vivendi CEO job - report

2013-09-09 15:33:00| Telecompaper Headlines

(Telecompaper) French telecom and entertainment conglomerate Vivendi has picked up the pace in the last few days in its search for a CEO to succeed Jean-Francois Dubos, who holds the post on an interim basis, writes Les Echos. The nominating committee is due to meet during the week of 9 September, and the supervisory committee is expected to ratify the decision before the end of the month. The headhunting operation, underway since the start of the summer, came up with Bertelsmann chairman and CEO Thomas Rabe as the favourite. However, according to the paper's sources, French industrialist Vincent Bollore, who owns over 5 percent of Vivendi, was not happy with the possibility of a German heading the two "jewels" (fleurons) of French industry, satellite TV broadcaster Canal Plus and telecom operator SFR. As a result, Bollore is now going for the job himself, the report said.

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Vivendi trims outlook after weak H1 results

2013-08-29 11:07:00| Telecompaper Headlines

(Telecompaper) French media group Vivendi reported a fall in first-half results due to weakness at its telecom activities in its home market. Revenues fell 1.5 percent to EUR 10.842 billion, as growth at Universal Music and GVT in Brasil could not offset weaker results at SFR. EBITA dropped 27.0 percent from a year earlier to EUR 1.391 billion, after SFR saw its operating profit fall by EUR 407 million due to increased competition and price pressure in the French mobile market. Net profit fell less, down by 11.2 percent to EUR 1.035 billion, thanks to lower taxes and higher earnings from Maroc Telecom in Africa and Activision, which are up for sale. The company had net debt of EUR 17.4 billion at the end of June, up from EUR 13.4 billion six months earlier, but expects this to fall to around EUR 6.5 billion once it completes the divestments of Maroc Telecom, 85 percent of Activision Blizzard and the record label Parlophone. Vivendi maintained its full-year outlook for an increase in EBITA at Universal Music Group, but lowered the outlooks for Canal Plus, SFR and GVT. Due to the confirmed telecom tax in France, SFR now expects EBITDA around EUR 2.8 billion this year, down from a forecast of around EUR 2.9 billion previously. GVT's revenue growth outlook was cut to the mid teens from the low 20s, due to the slowdown in the Brazilian economy, while the weaker ad market reduced Canal Plus's annual EBITA target to EUR 650 million from EUR 670 million.

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Vivendi net rises on units slated for sale

2013-08-29 02:00:00| Total Telecom industry news

Mobile unit SFR reports 16% decline in EBITDA.

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Vivendi studies feasibility of SFR spin-off

2013-07-29 08:59:00| Telecompaper Headlines

(Telecompaper) French telecom and entertainment conglomerate Vivendi has launched an internal feasibility study into how to spin off its French telecom subsidiary, SFR, without upsetting the group's credit rating or causing a fall in its share price, the Wall Street Journal reports. People familiar with the matter said such a deal could happen as early as autumn 2014. "De-consolidating SFR from the business would probably create value", said Vivendi CFO Philippe Capron said in a conference call with analysts after the group announced a deal to sell most of its stake in video game company Activision Blizzard. Capron added that a possible spin-off of SFR would be considered by the board "in due time".

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