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Vincent Bollore gives first clues on his vision for Vivendi

PARIS uk canada goose (Reuters) Billionaire French businessman Vincent Bollore gave the first hints of canada goose factory sale his strategy for Vivendi as he took over as chairman on Tuesday, saying he saw the potential to grow its media assets while also paying a healthy dividend.

canada goose store Vincent Bollore, the canada goose uk shop current vice chairman of Vivendi and largest shareholder, attends the company shareholders meeting in Paris, June 24, 2014. REUTERS/Benoit Tessier

canada goose clearance Vivendi, one of France biggest companies, has sold off Canada Goose Parka three businesses, including telecoms operator SFR, in a two year overhaul aimed at cutting debts and reviving its share price.

Bollore, who with a 5 percent stake is its biggest canada goose coats on sale shareholder, canada goose will be the key decision maker as canadian goose jacket the company seeks to forge a coherent whole out of its three remaining businesses and starts to look for growth opportunities.

canadian goose jacket Vivendi https://www.clevelandregionalmedicalcenter.com now canada goose clearance owns the world biggest record label, Universal Music Group, France biggest pay television operator, Canal Plus, and Brazilian broadband specialist canada goose black friday sale GVT.

strategy is now clearly fixed, Bollore told an annual shareholder meeting in his first public remarks on the company since he became vice chairman last year.

buy canada goose jacket is to transform the company from a financial holding to an integrated company focused on content

Canada Goose online Despite his influence, the 62 year old tycoon famed for building a family owned transport business in Africa and raiding blue chip companies has so far said very little about where he wants to take Vivendi. That has left investors cheap canada goose uk and analysts guessing whether his intentions are to sell off canada goose uk outlet more of the group, or seek to build something from its current Canada Goose Online portfolio.

One thing is sure, Vivendi is expected to hit the acquisition trail late this year and next to seek growth. People familiar with the situation have told Reuters it has up to cheap Canada Goose 10 billion euros ($14 billion) to remake itself in media depending on how much debt it is willing to take on.

Vivendi is expected to weigh acquisitions in different areas from Canal Plus and Universal Music Group, which are already too big in their respective markets to expand further, they said.

Canada Goose sale However, canada goose store they did not rule out that Canal Plus could also seek to expand its geographic footprint which is now France, Poland Vietnam, and some African countries to offset slowing Canada Goose online growth in its domestic market.

canada goose deals Regardless of deals, Vivendi has pledged to keep its current BBB debt rating from Fitch and Standard Poor and its Baa2 from Moody

GROWTH AND DIVIDENDS

buy canada goose jacket cheap Vincent Bollore (R), the current vice chairman of Vivendi and largest shareholder, and Vivendi outgoing Chairman Jean Rene Fourtou attend the company shareholders meeting in Paris, June 24, 2014. REUTERS/Benoit Tessier

canada goose coats on sale In terms of shareholder returns, Bollore said Vivendi could in future pay out about 40 50 percent of earnings in dividends.

canada goose black friday sale board will decide the canada goose uk black friday dividend policy based on what opportunities are available, he said, referring to acquisitions. in a growing business Canada Goose Outlet and we think our media activities will grow it seems reasonable to distribute 40 to 50 canada goose coats percent.

Canada Goose Outlet Vivendi has recently paid out about 40 uk canada goose outlet www.clevelandregionalmedicalcenter.com 50 percent of adjusted net earnings as dividends, Canada Goose Coats On Sale while also noting canada goose clearance sale a trend in the media sector of moving towards a 30 40 percent payout ratio.

canada goose clearance sale Bollore did not say anything about what acquisitions Vivendi should Canada Goose Jackets target. But he did say the group could squeeze more value and cost savings out of its three business lines by making them work together, something which has eluded Canada Goose sale Vivendi in the past decade despite repeated attempts. reality there is hidden value at Vivendi, said Bollore. are more synergies between the three business units than Vivendi has been able to exploit in the past.

cheap Canada Goose He gave as an example how Brazilian telco GVT could be used to sell more buy canada goose jacket television content from Canal Plus. GVT has used Canal Plus expertise to win some 700,000 pay TV customers only one year after launching the service.

Bernstein analyst Claudio Aspesi expressed scepticism that Vivendi diverse businesses had much in common. would probably prefer not to hear a re run of the old script Vivendi saying it is looking for synergies it a bit like a horror movie, he said before the shareholder meeting.

the past, the management has tried to demonstrate value of holding assets together, but operating synergies were never found.

Canada Goose Jackets Vivendi shares were up 0.5 percent at 1420 GMT in a flat European market. Shares that were trading at 12 euros when the firm overhaul started two years ago have settled at around 19 euros after hitting buy canada goose jacket cheap 21 euros in February, the highest level in three years.

In addition to Bollore debut, the shareholder meeting was a victory lap for veteran chairman Jean Rene Fourtou, who saved Vivendi from bankruptcy in 2002 and piloted the past two years of strategic overhaul.

Canada Goose Parka Bollore thanked Fourtou for bringing him to Vivendi and said he would nominate Fourtou as honorary board president.

think this young man still has a lot to give, Bollore said of 75 year old Fourtou.

canada goose coats Bollore arrived as a Vivendi shareholder in 2012 when he agreed to be paid in shares for selling 60 percent of his broadcast TV channels Direct 8 et Direct Star to Canal Plus. He later bought additional shares on the market.

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