U.S. Court Action in connection with the sale by Vivendi of a majority of its interest in Activision Blizzard

Published on

Paris, September 18, 2013

 

U.S. Court Action in connection with the sale by Vivendi of a majority of its interest in Activision Blizzard

The divestment of the majority of Vivendi’s interest in Activision Blizzard is being delayed by a U.S. court decision.

An alleged shareholder of Activision Blizzard filed last week a lawsuit in the United States against Activision Blizzard, Vivendi and ASAC II LP, a consortium of investors including the Activision Blizzard CEO Bobby Kotick and Co-Chairman Brian Kelly.

The plaintiff claims that the transactions were required to be submitted to a vote of stockholders of Activision Blizzard and therefore seeks to prevent consummation of the transactions.

At a hearing today, the Delaware Court of Chancery granted the plaintiff’s request, issuing an order which precludes the consummation of the transactions unless the order is modified on appeal or the transaction is approved by a Activision Blizzard stockholder vote.

Vivendi and Activision Blizzard remain committed to a swift conclusion of the transaction and are considering all options with their lawyers in light of the Court’s order.

About Vivendi

Vivendi groups together leaders in content and media. Canal+ Group is the French leader in pay-TV, also operating in French-speaking Africa, Poland and Vietnam; its subsidiary StudioCanal is a leading European player in production, acquisition, distribution and international film sales. Universal Music Group is the world leader in music; it recently strengthened and diversified its position with the acquisition of EMI Recorded Music.

In telecommunications, Vivendi owns GVT, the leading alternative broadband operator in Brazil, and SFR, a French leader in telecoms.

Vivendi recently announced the disposal of Maroc Telecom and the sale of the majority of its interest in Activision Blizzard, the world leader in video games.

www.vivendi.com

Important Disclaimers

Cautionary Note Regarding Forward Looking Statements. This press release contains forward-looking statements with respect to the financial condition, results of operations, business, strategy, plans and outlook of Vivendi, including the impact of certain transactions. 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 related to antitrust and other regulatory approvals as well as any other approvals which may be required in connection with certain transactions and the risks described in the documents Vivendi filed with the Autorité des Marchés Financiers (French securities regulator), which are also available in English on Vivendi’s website (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. Accordingly, we caution you against relying on forward looking statements. These forward-looking statements are made as of the date of this 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.

Unsponsored ADRs. Vivendi does not sponsor an American Depositary Receipt (ADR) facility in respect of its shares. Any ADR facility currently in existence is “unsponsored” and has no ties whatsoever to Vivendi. Vivendi disclaims any liability in respect of any such facility.


See all press releases