Investing.com — France's Vivendi (OTC:) saw first-quarter sales soaring nearly 87% and a study exploring the feasibility of a move to split the media conglomerate into several entities is “advanced.” “I'm here,” he said.
Vivendi said it was considering a partial demerger that would see its television channel Canal+, advertising company Havas and “a group of publishing and distribution assets grouped together” split into separate segments, which would then be listed on the stock market. Ta.
Following the separation, Vivendi itself will remain publicly traded and maintain its role of “supporting the transformation and expansion of its subsidiaries and continuing to actively manage their investments.”
The company said that if the supervisory board approves the split, the changes will be subject to consultation with employee representative bodies. After going through this process, Vivendi said the company may need to seek approval from multiple regulators in addition to a vote at an extraordinary general meeting as early as April next year.
Supervisory board chairman Yannick Bollore and Arnaud de Puyfontaine said in a statement that the company “continues to keep the market informed.”
The announcement came as Vivendi's revenue rose to 4.28 billion euros in the three months ended March 31, up from 2.29 billion euros in the same period last year and beating consensus estimates. Vivendi said the rise was due to the merger of French publishing group Lagardère and the strong performance of Canal Plus and Havas.
