Bollore says Vivendi needs to get more out of 3 units

PARIS, June 24 Tue Jun 24, 2014 6:24am EDT

PARIS, June 24 (Reuters) - Vincent Bollore said he believed Vivendi can squeeze more value out of its three business lines in pay-TV, Brazilian telecoms, and Universal Music Group by making them work together.

"In reality there is hidden value at Vivendi," said Bollore at the annual shareholder meeting on Tuesday.

"There are more synergies between the three business units than Vivendi has been able to exploit in the past."

He gave as an example how GVT, Brazil's broadband specialist, could be used to sell more television content based on Canal Plus, France's pay-TV leader. GVT has some 700,000 pay-TV customers only one year after launching the service.

Bollore added that if he was voted as new chairman of Vivendi's board, he would ask the board to name outgoing chairman Jean-Rene Fourtou as honorary president.

"I think this young man still has a lot to give," said Bollore of Fourtou, who is 75 years old and has been with Vivendi since 2002. (Reporting by Leila Abboud; editing by Geert De Clercq)