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    VIV   FR0000127771

VIVENDI SE

(VIV)
  Report
Real-time Euronext Paris  -  11:35 2022-11-25 am EST
8.708 EUR   +0.48%
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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)


ę Reuters 2013
Stocks mentioned in the article
ChangeLast1st jan.
AMÉRICA MÓVIL, S.A.B. DE C.V. -0.75% 19.77 End-of-day quote.-8.85%
BANCO BTG PACTUAL S.A. -0.15% 13.66 Delayed Quote.6.47%
EURO / BRAZILIAN REAL (EUR/BRL) 1.80% 5.6244 Delayed Quote.-12.89%
OI S.A. 1.89% 0.54 Delayed Quote.-57.81%
TELECOM ITALIA S.P.A. 0.13% 0.2255 Delayed Quote.-48.07%
TELEFÓNICA, S.A. 0.22% 3.653 Delayed Quote.-5.17%
VIVENDI SE 0.48% 8.708 Real-time Quote.-26.76%
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Analyst Recommendations on VIVENDI SE
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Financials
Sales 2022 10 155 M 10 559 M 10 559 M
Net income 2022 386 M 402 M 402 M
Net Debt 2022 1 269 M 1 320 M 1 320 M
P/E ratio 2022 19,9x
Yield 2022 3,62%
Capitalization 8 683 M 9 029 M 9 029 M
EV / Sales 2022 0,98x
EV / Sales 2023 0,92x
Nbr of Employees 34 300
Free-Float 59,7%
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Number of Analysts 16
Last Close Price 8,71 €
Average target price 11,97 €
Spread / Average Target 37,5%
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Managers and Directors
Arnaud Roy de Puyfontaine Chairman-Management Board & CEO
Franšois Marie Jean Charles Laroze Chief Financial Officer
Yannick BollorÚ Chairman-Supervisory Board
Caroline Le Masne de Chermont Senior VP-Legal Affairs, CSR & Compliance
Katie Jacobs Stanton Member-Supervisory Board
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