News - 07/04/2014

Vivendi accepts Numericable's offer for SFR, will concentrate on media

Vivendi accepts Numericable's offer for SFR, will concentrate on media

Vivendi announced accepting Numericable's offer for SFR, thus carrying out its plans to concentrate on properties like Universal Music, Canal+ and Brazilian broadband provider GVT, plans thatwere already public and had been mentioned as part of the latest earnings reports in February 2014.

The company will receive around €13.5 billion in cash and a 20% stake in the new entity, which it may or may not sell off. Numericable came on top after a bitter fight with 3, one of France’s largest mobile telecommunications operator.

This is good news for Universal Music Group since it now becomes the jewel of Vivendi’s assets as well as a centrepiece to its media strategy - and may benefit from additional investment.

An injection of cash from Vivendi could potentially allow Universal to start tackling other areas of the music business more aggressively, given that on the recorded music front any large scale acquisition would be met with restrictions - at least in the European Union.

 

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