Vivendi CEO Denies UMG For Sale
March 17, 2015 at 1:10 PM (PT)
VIVENDI CEO ARNAUD DE PUYFONTAINE denies that its UNIVERSAL MUSIC GROUP unit is for sale, and the company is planning "billions worth of acquisitions." VIVENDI had been selling assets as part of their restructuring plan to decrease its debt and boost shareholder value. The stock is showing signs of benefiting from the restructuring plan raising from 13 EUR in 2012 to 21 EUR lately.
The company's Market Cap: is at 29.53B and multiples at 6.2, which is cheaper than the Europe averages.
VIVENDI stock's rise has accelerated recently, with a target of 32 euro per share.
VIVENDI's media holdings include pay-TV CANAL + GROUP, its production subsididary STUDIOCANAL; VIVENDI VILLAGE, which brings together ticketinjg, WENGO (counseling) and VOD company WATCHEVER.