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VIVHY Vivendi SE (PK)

12.00
0.00 (0.00%)
Last Updated: 16:21:28
Delayed by 15 minutes
Name Symbol Market Type
Vivendi SE (PK) USOTC:VIVHY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 12.00 11.98 12.00 12.002 11.99 12.00 3,633 16:21:28

Lagardere Asks Court to Order Vivendi to Return TV Unit Cash - Report

13/02/2013 2:58am

Dow Jones News


Vivendi (PK) (USOTC:VIVHY)
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French media group Lagardere (MMB.FR) has gone to court against conglomerate Vivendi SA (VIV.FR, VIVEF) over management of cash generated by pay TV company Canal + France, French daily Le Figaro reported Wednesday.

Lagardere, which owns 20% of Canal + France, wants Vivendi, which owns the other 80%, to return EUR1.6 billion in cash to the pay TV unit, the newspaper said. Lagardere is asking the commercial court to annul an agreement that allows Vivendi to manage the cash from Canal + France.

The two companies held talks over Vivendi possibly buying Lagardere's 20% stake in Canal + France, but they failed to agree on price, the report said. Lagardere has criticized Vivendi's use of the cash for other activities instead of paying dividends to Canal + France's shareholders, it said.

Newspaper website: www.lefigaro.fr

Write to Dennis Baker at dennis.baker@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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