Report
Jerôme Bodin

Vivendi : Suite à la hausse des cours d’UMG et TI, la décote est-elle au plus haut ?

>Une décote de près de 55% actuellement - Nous faisons un point sur la valorisation de Vivendi. Depuis 3 mois, et donc depuis le début de l’été, les cours de TI et UMG ont respectivement progressé de 20% et 21,5%. Ces deux actifs représentent une valeur de 5,6 Md€ soit 67% de la capitalisation boursière du groupe actuellement. Pendant le même temps, celui de Vivendi est ressort quasi-stable (+1%). Alors que la valorisation des autres actifs et notamment de Groupe Can...
Underlying
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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