Vivendi : WPP read across , equivalent scenario possible for UMG?
>Is an equivalent scenario possible for UMG/Vivendi? - According to Sky News, WPP is in talks to sell 20% of the capital of its Chinese operations to a consortium comprised of the Chinese groups Tencent, Alibaba and the CMC fund (see our comments today). We wonder if a similar scenario is possible around UMG capital (100% Vivendi). We reiterate our view that a disposal of a first block to a private player (or consortium) and then an IPO is quite possible. This could,...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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