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France: Vivdendi plans $7B buyback after SFR divestiture

 |  April 25, 2014

French conglomerate Vivendi is planning a nearly $7 billion buyback and dividends deal following the high-profile sale of its wireless unit SFR, say reports.

The company is set to pay out shareholders over the next year after SFR was sold to Numericable, following a bidding war with Bouygues, in a $18.5 billion deal.

The payout will also follow Vivendi’s sale of its video games operations Activision Blizzard, and is set to close to divestiture of Maroc Telecom.

The buybacks remain subject to approval by shareholders, which will vote on the plan on June 24, reports say.

Full content: Reuters

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