Vivendi says feasibility study for planned split is in progress, Q1 sales soar
Adds details from statement and background from paragraph 3
April 29 (Reuters) -French media conglomerate Vivendi VIV.PA said a feasibility study for its planned split into four separate businesses was progressing, as it posted a nearly 87% jump in first quarter sales on Monday.
The option being examined is a partial split where Canal+, advertising firm Havas, and a company grouping its publishing and distribution assets would be listed separately, it said in a statement.
"The feasibility study for the split project announced on December 13, 2023, is progressing," said Yannick Bolloré, chairman of Vivendi's supervisory board.
The company said in December it would examine splitting up some of its activities in order to boost their growth and development.
Once separated from these three entities, Vivendi would stay listed, maintaining its role of supporting the expansion of its units and continuing to actively manage its investments, it said.
Vivendi's first quarter sales jumped 86.6% to 4.3 billion euros ($4.6 billion) driven by its Canal+ and Havas businesses and consolidation of Lagardère.
Vivendi took over French publishing group Lagardere last year.
($1 = 0.9326 euros)
Reporting by Shivani Tanna in Bengaluru; Editing by Milla Nissi
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