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    VIV   FR0000127771

VIVENDI SE

(VIV)
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Bollore Doesn't Rule Out Vivendi Tender Offer

06/11/2021 | 07:15am EDT

By Mauro Orru

Bollore SE isn't ruling out a tender offer for Vivendi SE if its ownership of the media group were to exceed a threshold set by France's markets regulator.

Vivendi said Friday that it had received a letter from Bollore Group, a conglomerate steered by the family of French billionaire Vincent Bollore, stating that if its shareholding were to exceed 30% of Vivendi's share capital or voting rights, the company wouldn't ask for an exemption from the obligation to file a tender offer for Vivendi.

Requirements from France's AMF oblige companies exceeding that threshold in another listed firm to submit a tender offer, although exemptions are possible.

Bollore is Vivendi's largest shareholder with a stake of about 27%, according to FactSet. However, the company won't necessarily exceed 30% "since the Bollore Group companies have the option of selling Vivendi shares, in particular to avoid the crossing of the threshold," Vivendi said.

The announcement comes as Vivendi is due to hold its annual general meeting on June 22, when it will ask shareholders to back a share capital reduction by up to 50% through a public share buyback offer to be followed by the cancellation of repurchased shares.

Vivendi said Bollore could take part in the share capital reduction by tendering its shares to the share buyback offer, although a decision hasn't been made as yet.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

06-11-21 0714ET

Stocks mentioned in the article
ChangeLast1st jan.
BOLLORÉ SE 0.35% 4.564 Real-time Quote.34.48%
DJ INDUSTRIAL 1.76% 33876.97 Delayed Quote.8.77%
VIVENDI SE 0.59% 29.02 Real-time Quote.9.33%
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Financials
Sales 2021 17 040 M 20 249 M 20 249 M
Net income 2021 1 272 M 1 512 M 1 512 M
Net Debt 2021 2 918 M 3 467 M 3 467 M
P/E ratio 2021 25,5x
Yield 2021 2,20%
Capitalization 31 333 M 37 328 M 37 234 M
EV / Sales 2021 2,01x
EV / Sales 2022 1,86x
Nbr of Employees 42 800
Free-Float 66,0%
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Technical analysis trends VIVENDI SE
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 33,74 €
Last Close Price 28,84 €
Spread / Highest target 49,1%
Spread / Average Target 17,0%
Spread / Lowest Target -4,65%
EPS Revisions
Managers and Directors
NameTitle
Arnaud Roy de Puyfontaine Chairman-Management Board & CEO
Hervé Philippe Chief Financial Officer & Member-Management Board
Yannick Bolloré Chairman-Supervisory Board
Stéphane Roussel Chief Operating Officer & Member-Management Board
Caroline Le Masne de Chermont Head-Legal Affairs, Senior VP-CSR & Compliance
Sector and Competitors
1st jan.Capitalization (M$)
VIVENDI SE9.33%37 328
WARNER MUSIC GROUP CORP.-9.69%17 648
BOLLORÉ SE34.48%15 880
DOLBY LABORATORIES, INC.1.78%10 021
BEIJING ENLIGHT MEDIA CO., LTD.-5.55%5 063
TOEI ANIMATION CO.,LTD.55.38%4 621