Vivendi has received two offers that the Supervisory Board considers relevant. It has decided to enter into exclusive negotiations with Altice

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Paris, March 14, 2014

 

Vivendi has received two offers that the Supervisory Board considers relevant.
It has decided to enter into exclusive negotiations with Altice

 

Vivendi’s Supervisory Board met today and examined the two offers received from Altice and Bouygues.

The Supervisory Board has now decided to enter into exclusive negotiations with Altice for a period of three weeks. It considers their offer to be the most pertinent for the Group’s shareholders and employees, with the opportunity for effective execution.

The offer also achieves Vivendi’s objective to rapidly become a leading European media and content player and develop SFR as a dynamic leader in high speed fixed and mobile telephony.

The Altice offer comprises an €11.75 billion payment to Vivendi and a 32% share in the equity of the combined listed entity. It also provides Vivendi with pre-determined exit conditions.

At the end of the three weeks, the Supervisory Board will meet again to examine the next steps and to decide if it should put an end to the other options envisaged.

 

 

About Vivendi

Vivendi groups together leaders in content, media and telecommunications. Canal+ Group is the French leader in pay-TV, also operating in French-speaking Africa, Poland and Vietnam; its subsidiary Studiocanal is a leading European player in production, acquisition, distribution and international film sales. Universal Music Group is the world leader in music. GVT is a telecoms and media/content distribution in Brazil. In addition, Vivendi owns SFR, a French leader in alternative telecoms.

www.vivendi.com

 

Important Disclaimers

Cautionary Note Regarding Forward Looking Statements. This press release contains forward-looking statements with respect to the financial condition, results of operations, business, strategy, plans and outlook of Vivendi, including projections regarding the impact of certain transactions. Although Vivendi believes that such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside our control, including but not limited to the risks related to antitrust and other regulatory approvals as well as any other approvals which may be required in connection with certain transactions and the risks described in the documents Vivendi filed with the Autorité des Marchés Financiers (French securities regulator), which are also available in English on Vivendi’s website (www.vivendi.com). Investors and security holders may obtain a free copy of documents filed by Vivendi with the Autorité des Marchés Financiers at www.amf-france.org, or directly from Vivendi. Accordingly, we caution you against relying on forward looking statements. These forward-looking statements are made as of the date of this press release and Vivendi disclaims any intention or obligation to provide, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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News Source : Vivendi has received two offers that the Supervisory Board considers relevant. It has decided to enter into exclusive negotiations with Altice

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