Vivendi approves plan to spin-off SFRTuesday, November 26th, 2013
Group demerger plan validated
Vivendi’s Supervisory Board, chaired by Jean-René Fourtou, today unanimously validated the group’s planned demerger, launched on September 11.
Based on the analysis submitted, this plan could take the form of a distribution of SFR shares to Vivendi shareholders on the day of the transaction. It would offer them the opportunity to invest in two separate vehicles listed on the stock market and valued according to the specifics of their respective sectors.
In this way, Vivendi aims to become an international media group, bringing together strong brands in the production and distribution of original content. This group would fully respond to the new ways of consuming digital media in music and video, and would pursue its development in fast-growing markets.
The demerger plan would also offer SFR greater strategic autonomy to seize opportunities in a transforming market, reflecting the growing number of services and high speed broadband access in an environment with a huge increase in usage.
This plan will be submitted to the relevant Works Councils and regulatory authorities. Its details will be presented at a later stage. The group aims to include it on the agenda of the next annual shareholders’ meeting end June 2014.