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Vivendi says to decide on demerger plan by early 2014
September 11, 2013 / 3:53 PM / 4 years ago

Vivendi says to decide on demerger plan by early 2014

PARIS, Sept 11 (Reuters) - Vivendi said it aimed to decide on whether to split its media businesses from its French telecom unit SFR by early next year, and named its largest shareholder Vincent Bollore as vice-chairman of its board.

“Vivendi’s supervisory board has unanimously decided to launch a study to split the group into two separate companies,” it said in a statement on Wednesday.

On one side would be its biggest unit, France’s second biggest telecom operator SFR. The media company would include Universal Music Group and pay-TV provider Canal Plus to create “a new international media group based in France.”

“The planned demerger would create significant value to shareholders as they would have the opportunity to invest in two clearly differentiated vehicles evaluated according to the specifics of their respective sectors,” said the company. (Reporting by Leila Abboud, Editing by Natalie Huet)

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