Vivendi : 10% stake in UMG could be pivotal asset in equity story
>A key asset as it can easily be monetised - This note provides an update on Vivendi’s stake in UMG (10.02% of the capital) as part of our examination of the group’s evolving situation. This asset is often overlooked but it looks to offer a key source of value in its reorganisation. It has the potential to play a pivotal role in the group’s equity story. Note that the group kept it in the context of the distribution of 60% of UMG’s capital in September 2021. At curre...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.
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.
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