Vivendi : Following the increase in UMG's and Telecom Italia’s share prices is the discount at a record high?
>Discount at close to 55% currently - Here we provide an update on Vivendi's valuation. For the past three months, and therefore since the beginning of the summer, Telecom Italia’s and UMG's share prices have gained, respectively, 20% and 21.5%. These two assets represent a value of € 5.6bn, i.e. 67% of the group's market capitalisation. Vivendi's share price has been more or less stable (+1%) over the same period. With the valuation of the other assets, notably of G...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.
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