Pursuits
Vivendi to Return $6.4 Billion to Investors Via Asset Sales
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Vivendi SA, the French conglomerate that’s refocusing on media businesses, plans to return about 5.7 billion euros ($6.4 billion) to investors after selling more than $30 billion of assets.
The amount will be paid through a combination of dividends and share buybacks by mid-2017, the Paris-based owner of Universal Music Group and Canal Plus said in a statement Friday. Vivendi said its board approved an agreement to sell its remaining 20 percent stake in cable and wireless carrier Numericable-SFR to Altice SA for 3.9 billion euros.