Canal+ Group, a Vivendi
Universal subsidiary, sold its 89% stake in Canal+ Technologies to Thomson
Multimedia for € 190 million in cash.
This transaction, approved
by the respective Boards and which still needs to be examined by the relevant
competition authorities, is part of Vivendi Universal's disposal of assets
program announced on August 19.
Thomson Multimedia is
already a shareholder of Canal+ Technologies, together with Canal+ Group,
Sun Microsystems, Sony and Sogecable. Last April, Vivendi Universal and Thomson
Multimedia concluded a strategic partnership agreement in the domain of digital
media related to the fight against piracy, broadband products and video services.
Canal+ Technologies will
continue to provide technology and services to Canal+ Group and its digital
TV operators, as well as to all the third-party operators with whom it is
in business.
Important disclaimer
This press release contains "forward-looking statements" as that
term is defined in the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are not guarantees of future performance. Actual
results may differ materially from the forward-looking statements as a result
of a number of risks and uncertainties, many of which are outside our control,
including but not limited to: the risk that new financing will not adequately
satisfy all immediate or medium-term obligations; the risk that the level
of debt reduction expected to be achieved as a result of certain restructurings
or asset disposals will not materialize; the risk that Vivendi Universal will
be unable to further identify, develop and achieve success for new products,
services and technologies; the risk that Vivendi Universal will face increased
competition and that the effect on pricing, spending, third-party relationships
and revenues of such competition will limit or reduce Vivendi Universal's
revenue and/or income; changes in currency exchange rates; changes in global
and local business and economic conditions; as well as the risks described
in the documents Vivendi Universal has filed with the U.S. Securities and
Exchange Commission and with the French Commission des Opérations de
Bourse. Investors and security holders are urged to read those documents at
the SEC's web site at www.sec.gov. Those
documents may also be obtained free of charge from Vivendi Universal. Vivendi
Universal undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
