Vivendi’s Supervisory Board decided to focus the Group on its media and content activities while maximizing the value of its telecom assets.
This strategy was initiated in 2012 following the launch of a strategic review announced in a Letter to the shareholders in March.
Vivendi signed the definitive agreement with Etisalat in November 2013 for the sale of its 53% shareholding in Maroc Telecom, a transaction closed in May 2014. Vivendi selected the Altice/Numericable offer for a combination with SFR in April 2014; the SFR sale was completed on November 27. In September, Vivendi signed the definitive agreement with Telefonica concerning the acquisition of its subsidiary GVT.
Furthermore, the sale of over 85% of Vivendi’s stake in Activision Blizzard was completed in October 2013.
At the same time, Vivendi reinforced its positions in media and content.
Vivendi and Universal Music Group acquired EMI Recorded Music and Canal+ Group acquired the Direct 8 and Direct Star free-to-air channels owned by the Bolloré group in exchange for Vivendi shares, two transactions completed in September 2012. Also in September, the transaction between Canal+ Group, ITI and TVN was granted full consent by the Polish Office of Competition and Consumer Protection; the closing took place in November 2012.
In November 2013, Vivendi acquired from the Lagardère group the 20% interest it did not yet own in Canal+ France, a transaction jointly announced by the two companies.