BARCELONA, Nov 15 (Reuters) - Vivendi plans to act on the findings of its strategy review in the coming quarters, the French group’s Finance Director Philippe Capron said on Thursday.
Asked when Vivendi would take action on its strategy review and asset sales, Capron told a Morgan Stanley conference: ”We are not under immediate pressure and have given ourselves no specific calendar.
“But we have raised hopes in the investor community that we cannot disappoint by taking years and years to figure out what we want to be. We will likely need to act in the coming quarters.”
Vivendi has been reviewing its media-to-telecom conglomerate structure since April in an effort to revive a flagging share price and pay down its debt. It is now working on sales of Brazilian telco GVT and Maroc Telecom, sources have told Reuters, and earlier sought to sell Activision Blizzard but had no bidders at the price it wanted.