Vivendi spin offs: let the show begin 1/2

But where is the best deal?

The different Vivendi spin offs are now individually quoted since yesterday (16/12/2024).

Hopefully this should show us that the value of each of the spins will be higher then when they were all bundled together within Vivendi.

Tax issues have been a mess both for institutionnal investors and for individuals. It was also a mess for french individual investors. I do not own any Vivendi shares as you already know where I prefer to be.

The good side with these spin offs is that we can do some cherry picking now that we finally have a share price for each one of them.

Once again don’t forget that Vincent Bolloré is a magician in the sense that he will distract you and push forward (in the spotlight) some assets while some other ones will not be spoken about a lot.

In the bigger picture, having all these spin offs helps to value one part of the assets held by Bolloré as well as quickly rebutting the liquidity discount argument for some of the assets.

Once again Vincent Bolloré has done everything he could at the Vivendi level to unlock value (special dividends, buybacks, carve out of UMG and now spin offs).

So here we go with my thoughts on the different spins.