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Universal Music, Imeem.com Sign Streaming Media DealSteven Towns • Dec. 10, 2007
Online Gaming: The Next Broadband Growth Driver? (V)Andrew Schmitt • Mar. 24, 2006
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VIVEF vs. ETF Alternatives
Friday, Mar 147:35 AM
Friday, Mar 147:35 AM| Comment!
- French Industry minister Arnaud Montebourg believes that Vivendi (VIVHY, VIVEF) prefers Numericable's bid for its SFR mobile unit over an offer from conglomerate Bouygues (BOUYY).
- However, there are concerns about a potential Numericable victory, Montebourg says, including the small size of the company relative to SFR, its debt, and its offshore ownership structure. Numericable's ulitmate owner, billionaire Patrick Drahi, controls the company via Luxembourg-based Altice.
- Montebourg prefers the Bouygues offer, as the company has pledged not to cut jobs.
- Vivendi's board was due to meet today to discuss the rival offers, which both value SFR at over $20B.
Monday, Mar 104:06 AM
Monday, Mar 104:06 AM| Comment!
- French conglomerate Bouygues (BOUYY) has agreed to sell part of its network and wireless spectrum to smaller French competitor Iliad for up to €1.8B ($2.5B) if Bouygues succeeds in its efforts to merge its mobile phone unit with Vivendi (VIVHY, VIVEF) subsidiary SFR.
- The asset sale would be part of Bouygues' attempts to assuage antitrust concerns in France about the cellular deal.
- Bouygues faces competition for SFR from Amsterdam-listed Altice, which doesn't face the same antitrust hurdles as Bouygues.
Thursday, Mar 63:37 AM
Thursday, Mar 63:37 AM| Comment!
- Bouygues (BOUYY) has offered €10.5B ($14.42B) to acquire a 49% controlling stake in Vivendi's (VIVHY, VIVEF) SFR mobile unit.
- Bouygues would then merge its telecom subsidiary with SFR and list the combined entity as soon as possible.
- Vivendi would be left with a 46% holding after the merger and advertising firm JCDecaux 5%.
- However, the deal would probably face a tough regulatory review given that SFR and Bouygues Telecom are the number two and three mobile operators in France by subscribers.
- Bouygues also faces competition for SFR from Amsterdam-listed Altice, which has reportedly offered €11B in a deal that would leave Vivendi with 30%+ of the new company.
Wednesday, Mar 55:05 PM
Wednesday, Mar 55:05 PM| Comment!
- Vivendi (VIVHY, VIVEF) has confirmed both cable giant Numericable and telecom/construction conglomerate Bouygues have made bids for its SFR mobile unit. The company adds each bid comes with financing commitments.
- Reuters has reported Numericable's bid values SFR at €15B ($20.6B), and would give Vivendi a 30% stake in the post-merger company.
- Regulators would likely give less scrutiny to a deal with Numericable than one with Bouygues, given the former wouldn't lower France's mobile carrier count. Either deal could yield a tougher competitor for SFR rivals Orange (ORAN +1%) and Iliad (Free).
- As of September, Orange had 26.8M subs, SFR had 21M, Bouygues had 11.1M, and Iliad had 7.4M.
Monday, Feb 247:10 AM
Monday, Feb 247:10 AM| Comment!
- Vivendi (VIVHY) has received an approach from Amsterdam-listed Altice about an alliance between Vivendi's mobile unit SFR and Altice's cable firm Numericable.
- However, Vivendi hasn't yet received a formal offer.
- Reuters earlier reported that the the deal being discussed would value SFR at €15B ($20.6B) and give Vivendi a 30% holding in the combined entity. (PR)
Friday, Nov 152013, 4:18 AM
Friday, Nov 152013, 4:18 AM| Comment!
- Vivendi's (VIVHY) FQ2 net profit dropped to €376M from €493M a year earlier, hurt by further declines at its French telecom unit SFR.
- EPS 28 cents per share vs 38 cents per share.
- Adjusted revenue +0.2% to €5.35B, in line.
- Adjusted EBIT dropped 23% to €730M, in line with some analysts' expectations.
- Vivendi confirmed its FY guidance for all units.
- Vivendi hopes to split off SFR, its largest subsidiary, by next year. The unit has been hit by a price war in France.
- Shares +2.85% in Paris. (PR)
Tuesday, Nov 52013, 8:16 AM
Tuesday, Nov 52013, 8:16 AM| Comment!
- Vivendi (VIVEF) sells its 53% stake in Maroc Telecom (MAOTF) to UAE's Etisalat for €4.2B ($5.7B) in cash. The companies intend to close the deal by the beginning of 2014.
- Negotiations began in April, with Etisalat becoming the only potential buyer after Qatar's Ooredoo withdrew from bidding in June. The Moroccan state holds a 30% stake in Etisalat and wanted to ensure that the new owner would invest in mobile infrastructure.
- The divestment builds on an overarching strategy of Vivendi to focus on its media and content businesses.
Tuesday, Oct 12013, 8:46 AM
Tuesday, Oct 12013, 8:46 AM| Comment!
- Echostar (SATS) and Vivendi (VIVHY.PK) subsidiary GVT are negotiating a pay-TV service joint venture in Brazil, reports Financial Times.
- The move would allow GVT to offer standalone TV services as opposed to its current triple-play-only offers (fixed-line, TV, and internet). GVT has grown rapidly and won 500K customers since it started the business in 2012.
- Bernstein analyst Claudio Aspesi noted, "This would give GVT the opportunity to distribute their content on a wider footprint." The JV may also benefit from increased pay-TV demand on the back of the 2014 World Cup, which Brazil will host.
Friday, Sep 132013, 4:32 AM
Friday, Sep 132013, 4:32 AM| 1 Comment
- Clear Channel Communications has for the first time agreed to pay royalties to Warner Music Group for songs played on Clear Channel's 850 radio stations.
- In return, Warner will lower the costs for Clear Channel of streaming music over the Internet from the 22 cents per 100 songs that the latter pays now. However, it reportedly won't be lower than Pandora's (P) 12 cents.
- Clear Channel has also been trying to strike licensing deals with Sony (SNE) and Universal Music (VIVEF.PK), but to no avail. Clear Channel, though, does have agreements with smaller labels.
- While Clear Channel and its peers have fought against radio stations having to pay royalties, along with Pandora, it has also complained about the high cost of streaming.
Thursday, Sep 122013, 4:49 AM
Thursday, Sep 122013, 4:49 AM| Comment!
- 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.
Friday, Jul 262013, 2:24 AMVivendi (VIVHY.PK) has agreed to sell 85% of its stake in Activision Blizzard (ATVI) to the computer-games company and its management for $8.2B. Activision will buy back 429M shares from Vivendi for $5.83B, using $1.2B of cash and debt of $4.6B, while a consortium led by Activision CEO Bobby Kotick and co-Chairman Brian Kelly will acquire 172M shares for $2.34B. The value of the deal is $13.60 a share, or a 10% discount to Activision's close on Thursday of $15.18. Vivendi, which also plans to sell its holding in Maroc Telecom, will retain a stake of 12% in Activision after the deal is closed. (PR) |Friday, Jul 262013, 2:24 AM| 6 Comments
Tuesday, Jul 232013, 3:28 AMAs expected, Vivendi (VIVHY.PK) has entered talks to sell its 53% holding in Maroc Telecom (MAOTF.PK) to Abu Dhabi based Etisalat for €4.2B in cash. Vivendi hopes to complete the negotiations by the end of 2013, while it's also talking with a Moroccan consortium about investing in the company. A sale would be the first step in Vivendi's strategy to focus on its media operations as it reportedly explores how to generate cash from its Activision Blizzard video-games unit. |Tuesday, Jul 232013, 3:28 AM| Comment!
Monday, Jul 222013, 4:25 AMVivendi (VIVEF.PK) is reportedly expected to discuss plans at a board meeting today for Activision Blizzard (ATVI) to pay a special dividend of over $3B. With a 60% holding in the video-games company, Vivendi would receive $2B, although Activision would have to raise debt to pay for the dividend. Vivendi's directors will also talk about a sale of its controlling stake in in North African phone operator Maroc Telecom (MAOTF.PK) for about $5.5B plus debt to Emirates Telecom. The money will allow Vivendi to reduce its €13.19B debt and could presage a spin-off of its SFR French phone operator subsidiary. |Monday, Jul 222013, 4:25 AM| Comment!
Friday, Jul 192013, 4:45 AMVivendi (VIVEF.PK) reportedly turned down an $8.5B offer it received three months ago from SoftBank (SFTBY.PK) for Universal Music. Analysts reacted with frustration to the report, as SoftBank's offer was $2-3B more than some of them reckon Universal is worth. While the French media and telecom conglomerate is under pressure to split itself up and has been looking to sell telecom operations, it views the music business as core. |Friday, Jul 192013, 4:45 AM| Comment!
Monday, May 272013, 5:27 AMEU telecom chief Neelie Kroes hopes to put together a package of reforms that will be approved before European Parliament elections in May next year. The plan is to foster a single market for the industry across the bloc, although Kroes is giving up on the idea of a single regulator following opposition from member states. |Monday, May 272013, 5:27 AM| Comment!
Wednesday, Mar 202013, 1:05 PMVivendi (VIVHY.PK) is thinking of spinning off its SFR French mobile phone unit, four sources tell Bloomberg. One proposal involves SFR, which made up ~40% of Vivendi's 2012 sales, assuming most of the conglomerate's debt. The sources caution a split could take 3-5 years to pull off, and would likely happen following the sale of Vivendi's 53% stake in Morocco's Maroc Telecom. Vivendi closed up 4.4% in Paris on the news; SFR rival France Telecom (FTE +3.1%) spiked higher, and is seeing decent gains in the U.S. |Wednesday, Mar 202013, 1:05 PM| 1 Comment