The media and publishing giant Vivendi is studying a project to split its activities into several listed entities, structured in particular around Canal+, Havas and an investment company including its majority stake in the Lagardère group. A surprise announcement which comes less than a month after the final takeover of Lagardère and which aims to “fully release the development potential of the whole” group activities.
“The Vivendi management board proposed to the supervisory board – which the latter authorized today – the possibility of studying a project to split the company into several entities, each of which would be listed on the stock exchange”says Vivendi in a press release, without further details on the calendar.
Media juggernaut
Vincent Bolloré’s group is notably supported by the dynamism of Canal+ and Havas, which respectively posted 1.5 billion euros in turnover in the third quarter and 686 million euros, “in an international context marked by numerous investment opportunities”. This split project, which should be long-term, would give “the necessary human resources and financial agility” to the desired developments, underlines Vivendi, which will provide an update on the progress of the study of the project and its feasibility ” on time “.
The third entity that could emerge is a “investment company holding listed and unlisted financial interests in the culture, media and entertainment sectors”, including its stake in Lagardère. At the end of November, the takeover of the Lagardère house by the Bolloré family reached its conclusion, after more than three and a half years of adventures. Vivendi thus goes from 38,000 to around 66,000 employees.