Vivendi : Canal+ en Afrique : un actif méconnu et sous-estimé
>Canal + Afrique conforte notre opinion Surperformance sur Vivendi - Nous faisons un point sur nos attentes et les perspectives de Groupe Canal+ en Afrique (24 pays). Cet actif est assez méconnu et surtout sous-estimé, selon nous. Il est presque aussi important qu’Havas en termes d’EBITA (~200 M€) et représente 1/4 de l’EBIT de Vivendi. Le groupe comptait 5,9 M d’abonnés sur le continent au S1. La croissance devrait rester forte (>+10% par an) et une base d’abonnés d...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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