Vivendi : Very dynamic Q3 and pursuit of process around UMG’s capital
>Good Q3 buoyed by UMG and pursuit of UMG process - Vivendi’s Q3 2019 revenues, reported yesterday evening, beat our expectations. The key takeaway is UMG's particularly strong performance (+16% organic in Q3), still driven by very good physical sales, which we did not expect. Management has also indicated that it is in talks with potential partners other than Tencent for the opening of UMG's share capital. This comes as no surprise given that the group has repeatedl...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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