Vivendi Continues to Consider Videogame Options - Spokesman

By Sam Schechner

PARIS--Vivendi is considering "all options" for its controlling stake in videogame company Activision Blizzard, a company spokesman said Thursday, denying a Bloomberg report that talks over a potential buyback have broken down.

"All options are still on the table," the spokesman said Thursday.

Vivendi Chief Financial Officer Philippe Capron told analysts Tuesday that Activision Blizzard's board was considering all options for the stake. On Thursday, the Vivendi spokesman said "nothing has changed" since that call.

California-based Activision Blizzard has a growing cash pile, and its management has long been interested in buying out some or all of Vivendi's roughly 60% stake, according to people familiar with the matter.

Vivendi's deal-making activity is part of a broader effort to concentrate the far-flung conglomerate on a narrower lineup of media assets that its chairman, Jean-Rene Fourtou, believes would be better valued on the stock market. In addition to Activision Blizzard, Vivendi's assets include French phone company SFR, Universal Music Group, and French pay-TV company Canal Plus.

Vivendi is continuing to consider two binding offers for its African phone operator Maroc Telecom (IAM.CL), submitted late last month.

-Write to Sam Schechner at [e-mail]

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