Vivendi : Bluebell has reportedly made a proposal on the dividend and where UMG is to be listed, what read-across?
>Proposal from Bluebell Capital, stake unknown - According to Bloomberg, in a letter (not made public for the time being) sent to Vivendi’s management, Bluebell Capital has made several proposals on strategic changes. We note the following points: 1/ the fund is asking Vivendi to consider the payment of a cash dividend per share of € 2.8, in order to compensate the negative fiscal impact of a pay-out in shares of 60% of UMG (imposed as an ordinary dividend for minori...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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