Vivendi chairman says strategy on track, backs Bollore

Reuters News
Posted: Oct 04, 2013 7:23 AM
Vivendi chairman says strategy on track, backs Bollore

PARIS (Reuters) - French media and telecoms group Vivendi is "on track" to deliver several asset sales and decide on a spin-off of French mobile network operator SFR, Vivendi's outgoing chairman said in an interview with Le Monde on Friday.

The once-sprawling conglomerate is seeking to re-shape itself as a media group focused on music and pay-TV and is selling out of Maroc Telecom and video games publisher Activision.

Chairman Jean-Rene Fourtou, who recently clashed with Vivendi's largest shareholder Vincent Bollore over Bollore's desire for more influence over the company's future, told Le Monde Bollore could take over as chairman of Vivendi's media activities after an SFR spin-off.

"Vivendi's transformation is on track," Fourtou was quoted as saying. "I have said and continue to say that I will leave once a split of Vivendi has been completed. Vincent Bollore could replace me as chairman of the media branch ... I will help him."

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The sale of most of Vivendi's stake in Activision Blizzard, which has been delayed by a lawsuit from an Activision investor, should be completed by mid-December, Fourtou said.

(Reporting by Lionel Laurent; Editing by Greg Mahlich)