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Vivendi to study break-up into two separate companies

  • Under pressure from shareholders, Vivendi (VIVHY.PK) plans to explore a separation into two companies: one comprising its French phone unit SFR and the other an international media group made up of the the rest of its businesses - Universal Music Group, pay-TV firm Canal Plus and Brazilian broadband provider GVT.
  • The new Vivendi intends to keep CEO Jean-Francois Dubos in the job and end a search for a new boss.
  • "The board agreed there were no synergies between telecoms and content, and that was dragging down Vivendi because of a holding structure discount," said 5% shareholder Vincent Bollore.
  • The proposed break-up comes after Vivendi agreed to sell its holding in video-games maker Activision Blizzard.
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