VIV FP

Vivendi Société Anonyme

TMT


Presented:04/24/2014
Price:€19.62
Cap:$28.50B
Current Price:€10.27
Cap:$11.53B

Presented

Date04/24/2014
Price€19.62
Market Cap$28.50B
Ent Value$42.28B
P/E Ratio6.15x
Book Value€14.48
Div YieldN/A
Shares O/S1,339.56M
Ave Daily Vol6,260,000
Short IntN/A

Current

Price€10.27
Market Cap$11.53B
Vivendi Société Anonyme, together with its subsidiaries, is engaged in the content, media, and telecommunication businesses primarily in France and rest of Europe, the United States, Morocco, Brazil, and internationally. The company operates in four businesses: Canal+ Group, Universal Music Group, GVT, and SFR. The Canal+ Group business publishes and distributes premium and thematic pay-TV channels and free-to-air channels in France, Poland, francophone Africa, French overseas territories, and Vietnam; and produces and distributes cinema films in Europe. The Universal Music Group business is involved in the sale of recorded music, including physical and digital media; exploitation of music publishing rights; and provision of artist services and merchandising. The GVT business offers fixed telecommunication, broadband Internet, and pay-TV services in Brazil. The SFR business provides mobile, broadband Internet, and fixed telecommunications services in France. In addition, Vivendi Société Anonyme provides expert advisory services by phone in France; ticketing services in the United Kingdom; and Web ticketing services in France, as well as sells digital content on the Internet primarily in Germany. The company, formerly known as Vivendi Universal S.A., was founded in 1853 and is headquartered in Paris, France.

Highlights

The presenter is long shares of Vivendi (VIV), and quickly reviewed the bull case related to the telegraphed corporate action involving SFR. The sale of SFR to Numericable for $17 billion, with optionality on the future business, is a substantially better outcome than anyone had hoped for. However, the stock has not traded up following the deal. At EUR 20 per-share, VIV is “incredibly attractive.” The company will have half of its market cap in cash, and has disclosed it will distribute 5 billion (EUR) from the sale of SFR. If investors are disappointed by this distribution, the presenter thinks it’s a mistake.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Request access to DeMatteo Research for full access

Request Access

Already have an account?

Idea Discussion

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Idea Discussions display submitted commentary from our investor community.

To read and participate in the discussion with the presenter and investor base, request access to DeMatteo

Request Access

Already have an account?

An error occurred loading this content. Try again later or contact us.