The demerger plan, which will see Vivendi shareholders get shares in
SFR, will be submitted to the relevant workers groups and regulatory
authorities. The aim is to include it on the agenda of the next
annual shareholders' meeting in June.
The demerger is part of a wider plan by the owner of Universal Music
and Canal Plus TV to refocus Vivendi's business around media and
content only. Earlier this year, Vivendi signed a final agreement to
sell its stake in Maroc Telecom to UAE-based telecoms company
Etisalat for 4.2 billion euros ($5.7 billion).
Vivendi had previously gone on an acquisition binge to bring
together content and distribution under one roof.
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