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France: Vivendi changes course with unanimous demerger approval

 |  November 27, 2013

Media conglomerate Vivendi announced Tuesday that its supervisory board has unanimously approved plans to demerge the company’s SFR telecom unit as the firm plans to step away from the telecommunications market and focus on media.

Once the divestiture of SFR is complete, reports say Vivendi will be made up of Universal Music Group, Canal Plus and Brazil-based telecom GVT.

As the company looks to pay off debts, Vivendi has already sold its video games publication company Activision Blizzard as well as Maroc Telecom. The firm inked an earlier deal to take full control of France-based Canal+.

SFR is France’s number-two telco operator.

Full Content: Reuters

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