317
Annual Report -
2013
-
Vivendi
4
Financial Report | Statutory Auditors’ Report on the Consolidated Financial Statements |
Consolidated
Financial Statements
| Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
Note 29. Major consolidated entities or entities accounted under equity method
Note
Country
December 31, 2013
December 31, 2012
Accounting
Method
Voting
Interest
Ownership
Interest
Accounting
Method
Voting
Interest
Ownership
Interest
Other operations
See Tickets
United Kingdom
C
100%
100%
C
100%
100%
Digitick
France
C
100%
100%
C
100%
100%
Wengo
France
C
100%
95%
C
100%
95%
Watchever Group S.A.
France
C
100%
100%
C
100%
100%
Watchever GmbH
Germany
C
100%
100%
-
-
-
Elektrim Telekomunikacja
Poland
C
100%
100%
C
100%
100%
Maroc Telecom S.A.
(f)
7
Morocco
C
53%
53%
C
53%
53%
Mauritel S.A.
Mauritania
C
51%
22%
C
51%
22%
Onatel S.A.
Burkina Faso
C
51%
27%
C
51%
27%
Gabon Telecom S.A.
Gabon
C
51%
27%
C
51%
27%
Sotelma S.A.
Mali
C
51%
27%
C
51%
27%
Activision Blizzard, Inc.
(g)
7
United States
na
12%
12%
C 61.5%
61.5%
C: Consolidated; E: Equity.
(a)
On November 5, 2013, Vivendi acquired Lagardère Group’s 20% interest in Canal+ France for €1,020 million in cash. Thereafter, with retroactive
effect to January 1, 2013, Canal+ France S.A. and Canal+ Distribution S.A.S. were merged with and into Canal+ Group S.A., pursuant to a
simplified merger.
(b)
Vivendi consolidated Société d’Edition de Canal Plus because (i) Vivendi has majority control over the Board of Directors, (ii) no other shareholder
or shareholder group is in a position to exercise substantive participating rights that would allow them to veto or block decisions taken by Vivendi
and (iii) Vivendi assumes the majority of risks and benefits pursuant to an agreement with this company via Canal+ Distribution S.A.S.. Indeed,
Canal+ Distribution, wholly-owned by Vivendi, guarantees this company’s results in return for exclusive commercial rights to its subscriber base.
(c)
Following the merger of Canal+ Cyfrowy (Cyfra+’s platform) with ITI Neovision (TVN’s “n” platform) on November 30, 2012, Canal+ Group holds a
51% interest in Canal+ Cyfrowy, which owns 100% of ITI Neovision and formed the new group “nc+”. As Canal+ Group has the majority on the
Supervisory Board and the power to govern financial and operating policies of “nc+”, the latter is consolidated by Canal+ Group.
At the same time, Canal+ Group acquired a 40% interest in N-Vision, which indirectly holds a 52% interest in TVN. On December 18, 2013, ITI
exercised its put option to sell a 9% interest in N-Vision to Canal+ Group: Canal+ Group’s ownership interest in N-Vision thus increased to 49%
(please refer to Note 27).
(d)
VSTV (Vietnam Satellite Digital Television Company Limited) is 49% held by Canal+ Group and 51% by VCTV, a VTV subsidiary (the Vietnamese
public television company). This company has been consolidated by Vivendi given that Canal+ Group has both operational and financial control
over it due to a general delegation that was granted by the majority shareholder and to the Company’s bylaws.
(e)
In 2013, Vivendi reorganized the legal chain of ownership of GVT’s shares and notably merged Global Village Telecom Ltda’s operational activities
with GVT’s holding company Global Village Telecom SA.
(f)
On November 4, 2013, Vivendi and Etisalat entered into a definitive agreement for the sale of Vivendi’s 53% interest in Maroc Telecom Group
(please refer to Note 7).
(g)
On October 11, 2013, Vivendi deconsolidated Activision Blizzard pursuant to the sale of 88% of its interest. As of December 31, 2013, Vivendi
retained 83 million Activision Blizzard shares, representing 12% of Activision Blizzard’s outstanding share capital. This interest was accounted for
as an asset of discontinued business in Vivendi’s Consolidated Financial Statement Position (please refer to Note 7).
Continued from previous page.
