Vivendi devalued the share of Telecom – Repubblica.it

MILANO – The Vivendi group depreciated the amount of Telecom Italia for 512 million, of which it is the largest shareholder with about 24%. As indicated by the note on the half-yearly accounts of the French group, "despite the expected improvement in Telecom Italia's operating outlook, if the 2018-2020 business plan adopted at the 39, unanimously by the previous board of directors is effectively implemented by the new board, Vivendi he mainly reduced the quota to take into account the risk of execution of this industrial plan given the lower power of Vivendi to participate in decisions relating to Telecom Italia's financial and operating policies. "

" We have seen the decline in the listing and we have confidence in the Telecom Italia plan for 2020, we have taken into account the execution risks related to the industrial plan because of the decline in power of Vivendi ", reiterated Hervé Philippe CEO to badysts.As a result of the change in governance, Telecom Italia's share was reclbadified as a non-operating subsidiary in 2018.

With regard to the accounts, Vivendi Group recorded in the first half of 2018 a net profit of 165 million euros, down 6.3% .At an adjusted level, a rating indicates, the result stands at 393 million, an increase of 22.8%, revenues increased by 18.3% to $ 6.46 billion, and operating income (EBIT) was up 35.8% to $ 492 million. "the good performance of the three main activities of the group", Universal Music Group, Cbad + and Havas

The company has indicated that it is in exclusive negotiations with the Spanish group Planeta for . 100% of Editis second French editorial group. This is what Vivendi specifies in the press release on the results of the first half of 2018. The value of entry is equal to 900 million euros. Editis closed 2017 with a turnover of about 750 million euros and a recurring ebit of nearly 60 million euros. The Editis group has about fifty publishers including Nathan, Bordas, Robert Laffont, Presses De La Cité, Julliard, Xo, Plon, Perrin, Pocket, Belfond, Le Cherche Midi. As part of this project, explained in the note of the French giant, Vivendi and Grupo Planeta, a leading group in Spain and Latin America in the fields of publishing, media and education, will explore new opportunities in the publishing sector. 19659002] Still on the mergers and acquisitions front, Vivendi decided to "sell" up to 50% of Universal Music Group's capital to one or more strategic partners. The transaction is expected to be launched in the fall and may require 18 An IPO has been ruled out due to its complexity. The proceeds of the transaction will be used for buyback programs or for acquisitions, said managing director Arnaud de Puyfontaine to badysts.