U.S. Court Action in Connection with the Sale by Vivendi of a Majority of
Its Interest in Activision Blizzard
PARIS -- September 18, 2013
The divestment of the majority of Vivendi’s (Paris:VIV) 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 Blizzardand 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 precludesthe 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
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
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.
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