Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Will Vivendi Make The Best Use Of Its Incoming Tsunami Of Cash?

(Editor's Note: Investors should be mindful of the risks of transacting in securities with limited liquidity, such as VIVHY. Vivendi's primary listing in France, VIV.PA, offers the best liquidity.)

Vivendi (OTCPK:VIVHY) investors are finally getting what they've long said (or most of them, at any rate) they want - management is unwinding the conglomerate, having sold down its stake in Activision Blizzard (NASDAQ:ATVI) and reached agreements to sell Maroc Telecom and SFR. The sale of the latter two will bring in close to EUR 17.2 billion, leaving the company's management with a lot of options regarding the future.

The company has already announced significant dividend payouts over the next two years, but between the remaining...

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