Vivendi Bids to Buy Majority Stake in Havas; 2017 Off to a Mixed Start
Vivendi posted a mixed start to 2017 with first-quarter revenue slightly ahead of consensus and EBITDA below. Canal+ continues to struggle in France, dragging down overall results, but management continues to expect a bounce back in the second half of the year. The firm also announced an all-cash bid to buy the 59.7% stake in Havas owned by Groupe Bollore for EUR 9.25 per share, representing a 9% premium to the closing price on May 11. Havas is the sixth-largest ad agency holding company in the ...
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