Vivendi spin-offs: already some action

As always lots of moves during the holidays

As usual when spin offs happen there is always a period of uncertainty between the forced sales by the institutionnals, the information which needs to be digested and just the simple fact that we are all busy with the Christmas holidays. But this is a game for me so I am happy to play!

The good side with these spinoffs is that I get to investigate new companies for which we have and will be having more information as time goes by.

It is also fun to try and guess what Vincent Bolloré has in his mind. It is like a chess game. I will probably get it wrong in trying to guess what his end game is but as long as I have a big margin of safety and fully understand the full span of the assets which are held in the different entitis then something good should happen. The aim is to get the direction right!

And well I am patient.

On one of the spin offs, we can see quite a lot moves. So I updated my valuation.