Report
Jerôme Bodin

ODDO : Une offre publique de Bolloré sur Vivendi est-elle probable ?

>Vers un rachat de Vivendi par Bolloré après UMG ? - Suite à la distribution de 60% du capital d’UMG par Vivendi, nous estimons qu’une offre publique de Bolloré sur Vivendi est possible. Celle-ci pourrait être précédée par une OPRA (rachat d’actions par Vivendi de ses propres actions) mais pas obligatoirement. L’objectif de Bolloré serait de maximiser sa participation dans Vivendi et de profiter de l’importante décote actuelle (37%e). Comme nous le détaillons dans cet...
Underlyings
Bollore SA

Bollore is a holding company. Through its subsidiaries, Co. conducts business in international logistics, transportation and logistics in Africa (port management, stevedoring, logistics), fuel distribution, batteries and supercapacitors, electric vehicles, plastic films for capacitors and packaging, dedicated terminals and systems, plantations, communicationa and the media (television and free press, advertising and market research) and the management of portfolio shareholdings. Co.'s activities can be divided into four segments: Transportation and logistics, Industry, Fuel distribution, and Other activities.

Vivendi SE

Vivendi is an audiovisual group active in the entertainment industry with activities in music, TV, cinema, mobile, fixed and internet, and games. Co.'s operations are divided into five businesses: Canal+ Group which produces and distributes pay-TV in France, analog or digital, and is involved in film making; Universal Music Group which sells recorded music (physical and digital media); GVT which serves as a telecommunication operator for fixed ultra high-speed broadband, fixed-line telecommunications and Pay-TV in Brazil; SFR which is engaged in mobile phone services in France, as well as fixed and ADSL services; and Other Activities which involves ticketing, Wengo and Watchever.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Jerôme Bodin

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