Vivendi : Downward revision to our forecasts prompted by a slightly more cautious scenario for Canal+ and Havas
>Update to our estimates as part of our Bolloré report - We have updated our forecasts for Vivendi with the publication of our report on Bolloré later today. We have lowered our forecasts for 2020-2021e EBITA by an average of 5%, primarily due to our more cautious scenario for Groupe Canal+, Havas and the group’s other activities (including Vivendi Village). However, our valuation and target prices our unchanged due to the increase in Spotify's and Tencent Music’s sha...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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