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Vivendi CEO To Step Down-WSJ

|Includes: Vivendi SA ADR (VIVHY)

Apparently Vivendi (OTCPK:VIVHY) CEO Jean-Bernard Levy is preparing to step down. This is good news for shareholders as it could potentially increase the odds of the company spinning off or selling some of their assets. This conglomerate trades at a substantial discount to their sum of the parts value, and Levy has been an advocate of retaining the conglomerate structure. We are long Vivendi and feel that it is a tremendous way to play the European financial crisis.

Disclosure: I am long OTCPK:VIVHY.