Vivendi Exit From GVT Could Bring More Cash Returns: Liberum
2014-05-30 08:27:53.565 GMT
By Blanche Gatt
May 30 (Bloomberg) -- Vivendi would be willing to
deconsolidate GVT if it obtained right price and/or structure,
Liberum says in e-mailed comments; reiterates buy, PT EU27.
* Liberum notes Corriere Delle Comunicazioni.it report of
possible tie-up between Vivendi’s GVT unit and Telecom
Italia’s Brazilian assets, La Repubblica report of Telecom
Italia CEO meeting with GVT management in Brazil
* Liberum says would not rule out Vivendi exit, monetization
of GVT; co. did seek to exit GVT previously, would do so for
right price, structure as GVT doesn’t fit with strategy to
become media, content co.
* If it did exit or monetize some of its stake, possibly
through a merger of the assets followed by an IPO, it
could bring more cash returns, Liberum says
* Values GVT in SOTP at EU7b
* Shares little changed after faling 0.5% in early trading; up
0.7% YTD
* NOTE today: Vivendi’s 14% Beats Stake Value Doubled in 9
Months, Kepler Says
* NOTE May 22: Vivendi Confirms Sale of 41.5m Activision
Blizzard Shares
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To contact the reporter on this story:
Blanche Gatt in London at +44-20-7392-0351 or
bgatt@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
2014-05-30 08:27:53.565 GMT
By Blanche Gatt
May 30 (Bloomberg) -- Vivendi would be willing to
deconsolidate GVT if it obtained right price and/or structure,
Liberum says in e-mailed comments; reiterates buy, PT EU27.
* Liberum notes Corriere Delle Comunicazioni.it report of
possible tie-up between Vivendi’s GVT unit and Telecom
Italia’s Brazilian assets, La Repubblica report of Telecom
Italia CEO meeting with GVT management in Brazil
* Liberum says would not rule out Vivendi exit, monetization
of GVT; co. did seek to exit GVT previously, would do so for
right price, structure as GVT doesn’t fit with strategy to
become media, content co.
* If it did exit or monetize some of its stake, possibly
through a merger of the assets followed by an IPO, it
could bring more cash returns, Liberum says
* Values GVT in SOTP at EU7b
* Shares little changed after faling 0.5% in early trading; up
0.7% YTD
* NOTE today: Vivendi’s 14% Beats Stake Value Doubled in 9
Months, Kepler Says
* NOTE May 22: Vivendi Confirms Sale of 41.5m Activision
Blizzard Shares
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Blanche Gatt in London at +44-20-7392-0351 or
bgatt@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net