Vivendi

Vivendi: 2008 Outlook Confirmed The Third Quarter Earnings Reflect Strategic Acquisitions of 2008

Vivendi.ROPERTD — 2008-11-13T16:46:58Z

Paris, september 13, 2008

Vivendi: 2008 Outlook Confirmed The Third Quarter Earnings Reflect Strategic Acquisitions of 2008

Vivendi reports good operating performance for 2nd quarter 2008

phracktale — 2008-09-20T12:57:36Z

Paris, september 1st, 2008

Vivendi reports good operating performance for second quarter 2008. 2008 outlook confirmed. Acquisitions completed without rights issue

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Vivendi Reports First Half 2008 Revenues Up 10.2%

2008-07-23T22:00:00Z

Paris, July 24, 2008

Vivendi Reports First Half 2008 Revenues Up 10.2%

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Download the appendix: detailed calculation of SFR revenue (pdf)

Vivendi and Activision complete transaction to create Activision Blizzard

2008-07-09T22:00:00Z

Paris, July 10, 2008

Vivendi and Activision complete transaction to create Activision Blizzard

• World's Most Profitable Pure-Play Online and Console Game Publisher

• Cash Tender Offer for Up to 146.5 Million of Activision Blizzard Shares at $27.50 per Share to Commence Within Five Business Days

• Vivendi owns 52% on a Fully Diluted Basis/54% of Outstanding Shares of Activision Blizzard

July 10, 2008 - Paris, France and Santa Monica, CA – Vivendi (Euronext Paris: VIV) and Activision, Inc. (Nasdaq: ATVI) today announced the completion of the transaction announced on December 2, 2007 to create Activision Blizzard, as the world's most profitable pure-play online and console game publisher. Activision Blizzard was formed by combining Activision, one of the world's leading independent publishers of interactive entertainment, and Vivendi Games, Vivendi's interactive entertainment business, which includes Blizzard Entertainment's® World of Warcraft®, the world's #1 subscription-based massively multiplayer online role-playing game. Activision Blizzard will continue to operate as a public company traded on Nasdaq under the ticker ATVI.

Jean Bernard Lévy, CEO of Vivendi, said: “We have created the world leader in online and console games with this transaction and the combined strengths of the two businesses offer immense growth potential. I am also very confident that, with the new leadership team in place, the new entity is perfectly positioned to take advantage of these rapidly developing markets across the globe.”

René Pénisson, Chairman of Activision Blizzard, added: “We are delighted that the merger has been completed. We are very excited about the opportunity for Activision Blizzard to create a broader entertainment software platform. We are leaders across North America and Europe and are creating a substantial footprint in the rapidly growing Asian market. We are determined to ‘think big'!”

“The completion of this transaction marks the beginning of an important new chapter in the history of interactive entertainment,” said Robert Kotick, President and Chief Executive Officer of Activision Blizzard.“By combining leaders in mass-market entertainment and subscription-based online games, Activision Blizzard has leading market positions across all categories of the rapidly growing interactive entertainment software industry. With more than 10.7 million subscribers on World of Warcraft®, and with tens of millions of people playing Guitar Hero®, Activision Blizzard's games are transcending the traditional stereotypes and are more popular as a form of entertainment than ever before. We look forward to building upon our brands to create value for our shareholders, customers and consumers.”

“From the beginning, our goal has been to make the best games in the world, and this transaction strengthens our ability to do just that,” said Mike Morhaime, Blizzard Entertainment cofounder and Chief Executive Officer. “As part of Activision Blizzard we'll have the reach and resources to share our games with an even wider audience - while maintaining the same approach as always to providing high-quality entertainment and services to our players.”

In addition to World of Warcraft®, the #1 subscription-based massively multiplayer online role-playing game, the transaction brings together some of the world's leading interactive entertainment franchises including Guitar Hero®, the #1 family entertainment and #1 music-based franchise; Call of Duty®, the #1 first-person action franchise; Tony Hawk, the #1 action sports franchise; Spider-Man™, the #1 Super Hero franchise; Cabela's®, the #1 sports hunting franchise; and two of the top-ten kids movie-based franchises, Shrek® and Madagascar™, for calendar year 2005 through 2007 according to the NPD Group, Chart Track and The GFK Group.

The transaction was approved by Activision's stockholders at a special stockholder meeting on July 8, 2008 and closed on July 9, 2008.

Structure and Terms of the Transaction
Under the terms of the agreement, Vivendi Games merged with a wholly owned subsidiary of Activision and shares of Vivendi Games were converted into approximately 295.3 million new shares of Activision common stock. Concurrently with the merger, Vivendi purchased approximately 62.9 million newly issued shares of Activision common stock at a price of $27.50 per share for a total of approximately $1.7 billion in cash, resulting in a total Vivendi ownership stake in Activision Blizzard of approximately 52% on a fully diluted basis and approximately 54% of shares outstanding.

In accordance with the terms of the agreement, within five business days of the closing of the transaction, Activision Blizzard will launch a $4 billion all-cash tender offer to purchase up to 146.5 million Activision Blizzard common shares at $27.50 per share. To the extent that Activision's stockholders participate in the tender offer, the tender offer may be funded with Activision Blizzard's available cash on hand at closing, borrowings made under credit facilities from Vivendi, and proceeds from the issuance of additional shares to Vivendi for up to $700 million. If the tender offer were fully subscribed, Vivendi would own an approximate 68% ownership stake in Activision Blizzard on a fully diluted basis.

The transaction is expected to be immediately accretive in its first year post-closing for Activision's stockholders on a non-GAAP basis excluding equity-based compensation, one time costs related to the transaction, the impact of purchase price accounting related adjustments including amortization of intangibles, and the impact of the change in deferred net revenues and cost of sales related to online-enabled games.

Both Activision and Blizzard Entertainment's businesses have maintained their momentum and Activision Blizzard is well positioned to exceed the financial goals set for the combined company at the time of the deal announcement.

Board & Management
The Board of Directors of Activision Blizzard consists of eleven members: six directors designated by Vivendi, two Activision management directors and three independent directors from Activision's board of directors. René Pénisson, a member of the Management Board of Vivendi and Chairman of Vivendi Games, will serve as Chairman of Activision Blizzard. Brian Kelly, Co-Chairman of Activision, will serve as Co-Chairman of Activision Blizzard. The three independent directors are Richard Sarnoff, Robert J. Corti and Robert Morgado. Other Activision Blizzard directors will be Robert Kotick (President and Chief Executive Officer of Activision Blizzard), Bruce Hack (Vice-Chairman and Chief Corporate Officer of Activision Blizzard), Jean-Bernard Lévy (Chairman of the Management Board and Chief Executive Officer of Vivendi), Doug Morris (Member of the Management Board of Vivendi and Chairman and Chief

Executive Officer of the Universal Music Group), Philippe Capron (Member of the Management Board and Chief Financial Officer of Vivendi), and Frédéric Crépin (Senior Vice President, Head of Legal Department of Vivendi).

Activision Blizzard is drawing on an accomplished group of leaders from both companies: Robert Kotick is President and Chief Executive Officer of Activision Blizzard. Mike Griffith is serving as President and Chief Executive Officer of Activision Publishing, which includes the Sierra Entertainment, Sierra Online and Vivendi Games Mobile divisions in addition to the Activision business.
Bruce Hack, who served as Chief Executive Officer of Vivendi Games, is Vice-Chairman and Chief Corporate Officer of Activision Blizzard, accountable for leading the merger integration and the finance, human resources and legal functions. Blizzard Entertainment cofounder, Mike Morhaime, will continue to serve as President and Chief Executive Officer of Blizzard Entertainment. Thomas Tippl, formerly Chief Financial Officer of Activision Publishing, has been appointed Chief Financial Officer of Activision Blizzard and Jean-François Grollemund, Chief Financial Officer of Vivendi Games, has been appointed Chief Merger Officer of Activision Blizzard.

Portfolio of Video Games and Franchises
Activision Blizzard's portfolio includes best-selling video games such as Guitar Hero®, Call of Duty®, and Tony Hawk, as well as Spider-Man™, X-Men™, Shrek®, James Bond™ and TRANSFORMERS™, leading franchises such as Crash Bandicoot™ and Spyro™ and Blizzard Entertainment's® StarCraft®, Diablo®, and Warcraft® franchises including the global #1 subscription-based massively multi-player online role-playing game, World of Warcraft®.

About Activision Blizzard
Headquartered in Santa Monica, California, Activision Blizzard, Inc. is a worldwide pure-play online and console game publisher with leading market positions across all categories of the rapidly growing interactive entertainment software industry.
Activision Blizzard maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Ireland, Italy, Sweden, Spain, Norway, Denmark, the Netherlands, Romania, Australia, Chile, India, Japan, China, the region of Taiwan and South Korea. More information about Activision Blizzard and its products can be found on the company's website, www.activisionblizzard.com.

Cautionary Note Regarding Forward-looking Statements:
Information in this press release that involves Activision Blizzard's expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. In this release, they are identified by references to dates after the date of this release and words such as “outlook”, “will,” “remains,” “to be,” “plans,” “believes”, “may”, “expects,” “intends,” and similar expressions. Factors that could cause Activision Blizzard's actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include, but are not limited to, sales of Activision Blizzard's titles in its fiscal year 2009, shifts in consumer spending trends, the seasonal and cyclical nature of the interactive game market, Activision Blizzard's ability to predict consumer preferences among competing hardware platforms (including next-generation hardware), declines in software pricing, product returns and price protection, product delays, retail acceptance of Activision Blizzard's products, adoption rate and availability of new hardware and related software, industry competition, rapid changes in technology and industry standards, protection of proprietary rights, maintenance of relationships with key personnel, customers, vendors and third-party developers, domestic and international economic, financial and political conditions, foreign exchange rates, integration of recent acquisitions and the identification of suitable future acquisition opportunities, Activision Blizzard's success in integrating the operations of Activision and Vivendi Games in a timely manner, or at all, and the combined company's ability to realize the anticipated benefits and synergies of the transaction to the extent, or in the timeframe, anticipated. Other such factors include the further implementation, acceptance and effectiveness of the remedial measures recommended or adopted by the special sub-committee of independent directors established in July 2006 to review Activision Blizzard's historical stock option granting practices, the finalization of the tentative settlement of the SEC's formal investigation and final court approval of the proposed settlement of the derivative litigation filed in July 2006 against certain current and former directors and officers of Activision Blizzard relating to Activision Blizzard's stock option granting practices, and the possibility that additional claims and proceedings will be commenced, including additional action by the SEC and/or other regulatory agencies, and other litigation unrelated to stock option granting practices and any additional risk factors identified in Activision Blizzard's most recent annual report on Form 10-K and quarterly reports on Form 10-Q and the definitive proxy statement filed on June 6, 2008 in connection with the proposed transaction with Vivendi. The forward-looking statements in this release are based upon information available to Activision Blizzard as of the date of this release, and Activision Blizzard assumes no obligation to update any such forward-looking statements. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of Activision Blizzard and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.

Vivendi Investor Relations:
Daniel Scolan
Phone: +33 (1) 71 71 14 70
Mobile: +33 (6) 12 38 7762

Aurelia Cheval
Phone: +33 (1) 71 71 12 33

Agnès de Leersnyder
Téléphone : +33 (1) 71 71 30 45

Activision Blizzard Investor Relations:
Kristin Southey

Phone: (310) 255-2635

Activision Blizzard Media (Europe):
Don Hunter
Finsbury Limited
Téléphone : +44 20 7251 3801

Vivendi Investor Relations (US):
Eileen McLaughlin
Phone: (212) 572 -8961

Vivendi Media:
Antoine Lefort
Phone: +33 (1) 71 71 11 80
Mobile: +33 (6) 11 72 76 95

Agnès Vétillart
Phone: +33 (1) 71 71 30 82

Solange Maulini
Phone: +33 (1) 71 71 11 73

Vivendi Media (US):
Flavie Lemarchand-Wood
Phone: (212) 572-1118
Mobile: (646) 752-7550

Activision Blizzard Media (U.S.):
Stephanie Pillersdorf
Sard Verbinnen & Co
Phone: (212) 687-8080

Cassandra Bujarski
Sard Verbinnen & Co
Mobile: (917) 583 - 7255

Maryanne Lataif
Mobile: (310) 990-5870

Blizzard Entertainment (North America):
Lisa Jensen
Phone: (949) 854-6200

Blizzard Entertainment (Europe):
Guy Cunis
Phone: +33 (0)1 30 67 91 19

Blizzard Entertainment (South Korea):
Christy Um
Phone: +822 2175 1380 x 33904
Mobile: +8211 1724 3904

Blizzard Entertainment (China):
Roger Sun
Phone: +86 21 3133 0700
Mobile: +86 13 4 0206 8861

Blizzard Entertainment (Region of Taiwan):
Chi Liu
Phone: +886 2 2712 3116 x 27
Mobile: +886 915 869 953

Blizzard Entertainment (Australia, New Zealand):
Chris Davey
Phone: +61 2 9256 8211

Press release - Elektrim and Deutsche Telekom

2008-06-17T22:00:00Z

Paris, June 18, 2008

Press release - Elektrim and Deutsche Telekom

The Warsaw court has recognized today the Arbitral Award issued on November 26, 2004, in Vienna (Second Vienna Award) in the dispute between Elektrim and Deutsche Telekom (DT), most importantly including the fourth point of the award deciding that:

“it (the tribunal) has no jurisdiction over Telco and DT's claims against Telco cannot be entertained in this arbitration”

Telco's position is that this award does not bind Telco and therefore cannot affect Telco's ownership rights. The Austrian Supreme Court already reached the same conclusion in December 2006 when analysing the meaning of this award. It is for Polish courts only to decide of PTC's ownership rights in the pending proceedings following May 21, 2008, Warsaw Appeal Court decision's. Telco is the legitimate owner of 48% of PTC and Vivendi owns directly and indirectly 51% of PTC.

Important disclaimer:
This press release contains forward-looking statements with respect to the financial condition, results of operations, business, strategy and plans of Vivendi. Although Vivendi believes that such forward-looking statements are based on reasonable assumptions, such 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 risks described in the documents Vivendi filed with the Autorité des Marchés Financiers (French securities regulator) and which are also available in English on our web site ( www.vivendi.com). Investors and security holders may obtain a free copy of documents filed by Vivendi with the Autorité des Marchés Financiers at www.amf-france.org , or directly from Vivendi. The present forward-looking statements are made as of the date of the present press release and Vivendi disclaims any intention or obligation to provide, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Vivendi - capital increase reserved for Vivendi Group employees

2008-06-11T22:00:00Z

June 12, 2008

Vivendi - capital increase reserved for Vivendi Group employees

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Vivendi: Very Good First Quarter - 2008 Outlook Confirmed

2008-05-13T22:00:00Z

May 14, 2008

Vivendi: Very Good First Quarter - 2008 Outlook Confirmed

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General Shareholder Meeting of April 24, 2008

2008-04-23T22:00:00Z

Paris, April 24, 2008

General Shareholder Meeting of April 24, 2008

• Approval of a dividend of €1.30 per share, up 8.3%
• Appointment of Jean-Yves Charlier as a member of the Supervisory Board
• Appointment of Philippe Donnet as a member of the Supervisory Board

Vivendi held its General Meeting of Shareholders today, Thursday, April 24, 2008. There was a quorum of 51.37% and nearly 2,000 people attended.

Shareholders approved the 21 resolutions, and in particular:

- Vivendi's parent company and consolidated accounts,

- the distribution of a dividend of €1.30 per share for the 2007 financial year, representing an increase of 8.3% compared to 2006 and a distribution rate of 53.5% of adjusted net income. The total amount distributed to Vivendi shareholders will be approximately €1.5 billion, payable on May 14, 2008, and

- the appointments of Messrs. Charlier and Donnet as directors.

Detailed results of the votes on the various resolutions are available on Vivendi's website (www.vivendi.com). A letter to shareholders relating to the meeting will also be published on the site in the near future.

Biography of Mr. Jean-Yves Charlier

Jean-Yves Charlier has a Master of Business Administration (MBA) degree from the University of Pennsylvania. In 1995, he was appointed Vice-President of Wang international. Between 1996 and 2002, he was President of Equant Integration Services. In 2002, he joined BT Global Services Europe as Chief of Operations and then as President. From 2004 to 2006, he was President and Chief Executive of Colt Telecom Group. In November 2006, he joined Fidelity International as a Director. Since 2007, Mr. Jean-Yves Charlier has been Chief Executive Officer of Promethean Limited, a company specializing in interactive learning products and educational tools for teachers. He is 44 years of age.

Biography of Mr. Philippe Donnet

Philippe Donnet is a graduate of the Ecole Polytechnique and a member of the Institute of French Actuaries (I.A.F). In 1985, he joined AXA. From 1997 to 1999, he was Deputy Chief Executive Officer of AXA Conseil (France), before becoming Chief Executive of AXA Assicurazioni in Italy in 1999, and then a member of AXA's Executive Committee as Chief Executive Officer of the Mediterranean Region, Latin America and Canada in 2001. In March 2002, he became Chief Executive Officer of AXA Re and Chairman of AXA Corporate Solutions. In March 2003, he was appointed Chief Executive Officer of AXA Japan, and then in October 2006, Chairman of AXA Japan and Chief Executive Officer of the Asia-Pacific region. In April 2007, he joined Wendel as Chief Executive Officer for the Asia-Pacific. Mr. Philippe Donnet remains a non-executive Chairman of Axa Japan's Board of Directors. He is 47 years of age.

Success of offer made to bonds exchangeable holders in Sogecable shares

2008-04-20T22:00:00Z

Paris, April 21 2008

Success of offer made to bonds exchangeable holders in Sogecable shares

Important disclaimer

This press release does not, and shall not, in any circumstances constitute a public offering nor an invitation to the public in connection with any offering of any the bonds specified in this press release.

This press release may not be published, distributed or transmitted in the United States (including its territories and dependencies, any state of the United States and the district of Columbia). This press release does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States or by U.S. persons. The bonds mentioned herein have not been and will not be offered or sold in the United States or to, or for the account or benefit of U.S. persons, unless they are registered or exempt from registration under the United States Securities Act of 1933, as amended. Vivendi does not intend to register any portion of the offering in the United States or to conduct a public offering of securities in the United States.

The sales in the Republic of Italy of the bonds specified in this press release shall only be negotiated on an individual basis with “professional investors”, as defined under article 31, paragraph 2, of Commissione Nazionale per le Società e la Borsa (“CONSOB”) Regulation no. 11522 of 1 July 1998, as amended, and effected in compliance with the requirements of articles 94 and seq. of Legislative Decree no. 58 of 24 February 1998, as amended (“Legislative Decree no. 58”) and CONSOB Regulation no. 11971 of 14 May 1999, as amended (“Regulation no. 11971”) and shall in any event be effected in accordance with all relevant Italian securities, tax and exchange control and other applicable laws and regulations. Accordingly, in Italy, this press release is for distribution only to investment firms, banks or financial intermediaries permitted to conduct such activities in the Republic of Italy in accordance with Legislative Decree no. 58, Regulation no. 11971 and any other applicable laws, regulations and instructions of the Bank of Italy.

The distribution of this press release in certain countries may constitute a breach of applicable law. In addition to the above the information contained in this press release does not constitute an offer of securities for sale in Canada or Japan.

I FURTHER CERTIFY THAT I HAVE READ AND UNDERSTAND, AND AGREE TO COMPLY WITH, THE TERMS AND CONDITIONS DESCRIBED ABOVE AND THAT I AM ELIGIBLE TO ACCESS THE PRESS RELEASE IN ACCORDANCE WITH SUCH TERMS AND CONDITIONS.

YES, I CERTIFY

NO, I DO NOT CERTIFY

Vivendi and SFR receive purchase authorization from the Minister of the Economy, Industry and Employment

2008-04-14T22:00:00Z

Paris, April 15, 2008

Vivendi and SFR receive purchase authorization from the Minister of the Economy, Industry and Employment

SFR together with Neuf Cegetel creates a new-generation telecommunications group

Vivendi and SFR received permission from the Minister of the Economy, Industry and Employment to go ahead with the purchase of the Louis Dreyfus Group's equity stake in
Neuf Cegetel.

Consequently, in accordance with the agreement announced on December 20, 2007, SFR today acquired, at a price of €34.50 a share with the 2007 coupon attached, the entire equity stake of the Louis Dreyfus Group in Neuf Cegetel, or 28.45%. SFR now has control of Neuf Cegetel with 68.13% of its capital.

In the next few days, and in agreement with stock exchange regulations, SFR will file with the “Autorité des Marchés Financiers” (the Paris Stock Exchange Regulator) a Simplified Public Purchase Offer at a price of €36.50 a share with the 2007 coupon attached. This operation will be followed, if necessary, by a Public Withdrawal Offer at the same price.

Neuf Cegetel's shareholders will be asked to approve the payment of a dividend of €0.60 per share at the company's General Shareholders' Meeting on April 21, 2008. As a result of this payment, scheduled on May 2, 2008, the price of SFR's offer would be adjusted to €35.90.

The Minister's approval is in view of new commitments made by Vivendi and its subsidiaries. They address competitor access and new market entrants to wholesale markets on SFR's fixed and mobile networks, acceptance on the fixed network of an independent television distributor if such a player appears, as well as the availability on a non-exclusive basis on ADSL of eight new channels leaders on their particular themes (Paris Première, Teva, Jimmy, Ciné Cinéma Famiz, three M6 Music channels and Fun TV).

With 19 million mobile customers, 3.6 million Internet broadband customers, 10,000 employees and revenues totalling €12 billion, the newly expanded company will become a major operator capable of responding to the needs of all market segments: the general public, corporate and wholesale. This new-generation telecommunications company will play a leading role in the fields of innovation and development of new convergent services as well as rolling out very high-speed fixed (optic fiber) and mobile (3G/3G+) broadband networks in the best interests of consumers.

Important disclaimer
This press release contains forward-looking statements with respect to the financial condition, results of operations, business, strategy and plans of Vivendi. Although Vivendi believes that such forward-looking statements are based on reasonable assumptions, such 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 risks described in the documents Vivendi filed with the Autorité des Marchés Financiers (French securities regulator) and which are also available in English on our web site (www.vivendi.com ). Investors and security holders may obtain a free copy of documents filed by Vivendi with the Autorité des Marchés Financiers at www.amf-france.org , or directly from Vivendi. The present forward-looking statements are made as of the date of the present press release and Vivendi disclaims any intention or obligation to provide, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This release does not constitute an offer to purchase or exchange on the Neuf Cegetel securities nor the solicitation of an offer to sell or exchange any securities of SFR, nor shall there be any purchase, sale or exchange of securities in any jurisdiction (including the United States, Germany, Italy and Japan) in which such offer, solicitation, sale or exchange would be unlawful prior to the registration or qualification under the laws of such jurisdiction. The distribution of this communication may, in some countries, be restricted by law or regulations. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, Vivendi and SFR disclaim any responsibility or liability for the violation of such restrictions by any person.

Press Contact - SFR
Julien Villeret – +33 1 71 07 64 82
julien.villeret@fr.sfr.com

Press Contact - Vivendi
Antoine Lefort – +33 1 71 71 11 80
Solange Maulini – +33 1 71 71 11 73
Agnès Vetillart – +33 1 71 71 30 82

Press Contact - Brunswick
Aurélia de Lapeyrouse / Agnès Catineau – +33 1 53 96 83 83