Vivendi says the feasibility study looking into a break-up of the French media giant has it is currently examining a partial split of the company.
Under the current proposals Canal+ Group, Havas, and the company grouping Vivendi’s assets in publishing and distribution would become independent entities listed on the stock market. Once separated from these three entities, Vivendi would remain as is, publicly listed, maintaining its role of supporting the transformation and expansion of its subsidiaries and continuing to actively manage its investments.
If the Supervisory Board chooses to go ahead with the plan, it will first need to consult with employee groups. Towards the end of that consultation process, regulatory authorisations will be sought, along with approvals from bondholders.
Vivendi began the process amid concerns that the value of the company was no longer being reflected following the spin-off of Universal Music Group.
A vote is not anticipated before the Annual General Shareholders’ Meeting scheduled for April 2025.
Reporting its first quarter financials, Vivendi said its first quarter revenues were €4,275 million, up from €2,290 million for the first quarter of 2023.
The increase was driven by the consolidation of Lagardère as well as revenue growth at Canal+ Group and Havas.
Canal+ Group’s revenues were €1,542 million, up 4.3% compared to the first quarter of 2023. Revenues from international operations increased by 5.8% year-on-year, particularly helped by growth in Africa.
