Vivendi has been massively restructured since the departure of the previous, controversial, management. Since 2000, the debt of €25bn has been reduced to €6.3bn. Vivendi is generating healthy cashflows from its mobile telecommunication companies. Further to this, the company owns considerable content through its stake in NBC Universal, and a distribution company in France, Canal Plus. The company's games and music businesses are just returning to profit. An improvement here could lead to upside to our 10.7% free cash flow yield forecast in 2006.
| Sedol |
Type |
Price |
Date |
| 4834777 |
Buy |
EUR 31.185 |
18/05/2007 | |
