Vivendi To Drop Telecoms

The Paris-based conglomerate has spent three months analyzing a move to de-merge SFR, and details of the decision to go ahead will likely be the main focus of June’s annual shareholder meeting.

Vivendi has made it clear music and content would become its core business since wholly owned subsidiary Universal Music’s paid £1.2 billion ($1.9 billion) for EMI’s recorded music business at the end of last year.

Universal, the world’s largest record company, recently announced a year-on-year sales increase of 7 percent and a 12.5 percent increase in earnings before interest and tax.

When the SFR de-merger is complete, Vivendi is expected to announce Vincent Bolloré as its chairman. Arnaud de Puyfontaine, currently chief exec of Heart Magazines UK and vice president of its European operation, is expected to become Vivendi’s senior executive vice president for media and content.