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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Vivendi SE    VIV   FR0000127771

VIVENDI SE

(VIV)
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Vivendi nears sale of GVT with green light from Brazil

02/24/2013 | 11:46am EST
The logo of Vivendi is seen during the company's 2008 annual results presentation in Paris

SAO PAULO (Reuters) - French media group Vivendi SA (>> VIVENDI) is likely to close a deal in the coming weeks to sell a stake in Brazilian telecoms unit GVT, after getting the government's nod to close a deal with DirecTV (>> DIRECTV) or a group of funds led by KKR & Co (>> KKR & Co. L.P.), newspaper Folha de S.Paulo reported on Sunday.

SAO PAULO (Reuters) - French media group Vivendi SA (>> VIVENDI) is likely to close a deal in the coming weeks to sell a stake in Brazilian telecoms unit GVT, after getting the government's nod to close a deal with DirecTV (>> DIRECTV) or a group of funds led by KKR & Co (>> KKR & Co. L.P.), newspaper Folha de S.Paulo reported on Sunday.

Vivendi may now accept a share swap as part of a deal to get closer to the 19 billion reais ($9.6 billion) it is asking for GVT, Folha reported, citing unnamed executives involved in negotiations. Final bids are expected by mid March, according to a Vivendi executive not named in the report.

DirecTV has said it will maintain its cash offer around 15 billion reais, according to Folha, but it could sweeten its bid with a share swap. The paper said a group of funds, including KKR and Brazil's Gavea Investimentos, had made a smaller offer that would leave Vivendi with a partial stake in GVT.

A spokeswoman for KKR in New York declined to comment on the report. Efforts to reach spokesmen for Vivendi in Paris, for DirecTV in New York and Gavea in Rio de Janeiro were unsuccessful.

Although GVT has been a growth driver for Vivendi, the French group has come to see funding its expansion as a burden that cannot yet be covered by GVT's cash generation.

GVT did not respond to a request for a comment.

In a meeting with Vivendi executives in the capital Brasilia, officials expressed their approval of a deal that would not concentrate control of Brazil's telecom market in the hands of its four biggest phone companies, Folha reported.

A spokesman for Brazil's communications ministry could not be reached for a comment.

($1 = 1.98 Brazilian reais)

(Reporting by Brad Haynes and Guillermo Parra-Bernal; Editing by Maureen Bavdek)


© Reuters 2013
Stocks mentioned in the article
ChangeLast1st jan.
AMÉRICA MÓVIL, S.A.B. DE C.V. 1.45% 14.74 End-of-day quote.-2.38%
BANCO BTG PACTUAL S.A. -1.89% 44.66 End-of-day quote.11.65%
EURO / BRAZILIAN REAL (EUR/BRL) 0.54% 6.3746 Delayed Quote.40.72%
OI S.A. 2.70% 3.04 End-of-day quote.147.15%
TELECOM ITALIA S.P.A. 1.57% 0.4012 Delayed Quote.-27.89%
TELEFONICA S.A. 1.11% 3.736 Delayed Quote.-40.00%
TELEFÔNICA BRASIL S.A. -2.26% 45.34 End-of-day quote.-21.80%
TIM PARTICIPAÇÕES S.A. -0.88% 13.46 End-of-day quote.-14.10%
VIVENDI SE -0.24% 25.39 Real-time Quote.-1.67%
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Financials
Sales 2020 16 030 M 19 177 M 19 177 M
Net income 2020 1 141 M 1 364 M 1 364 M
Net Debt 2020 3 901 M 4 667 M 4 667 M
P/E ratio 2020 25,3x
Yield 2020 2,41%
Capitalization 30 060 M 35 939 M 35 960 M
EV / Sales 2020 2,12x
EV / Sales 2021 1,97x
Nbr of Employees 43 822
Free-Float 66,3%
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 29,27 €
Last Close Price 25,39 €
Spread / Highest target 49,7%
Spread / Average Target 15,3%
Spread / Lowest Target -13,4%
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Managers
NameTitle
Arnaud Roy de Puyfontaine Chairman-Management Board & CEO
Yannick Bolloré Chairman-Supervisory Board
Stéphane Roussel Chief Operating Officer & Member-Management Board
Hervé Philippe Chief Financial Officer & Member-Management Board
Aliza Cohen-Jabès Member-Supervisory Board
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