By Sam Schechner
PARIS--Vivendi is considering "all options" for its controlling
stake in videogame company Activision Blizzard, a company spokesman
said Thursday, denying a Bloomberg report that talks over a
potential buyback have broken down.
"All options are still on the table," the spokesman said
Thursday.
Vivendi Chief Financial Officer Philippe Capron told analysts
Tuesday that Activision Blizzard's board was considering all
options for the stake. On Thursday, the Vivendi spokesman said
"nothing has changed" since that call.
California-based Activision Blizzard has a growing cash pile,
and its management has long been interested in buying out some or
all of Vivendi's roughly 60% stake, according to people familiar
with the matter.
Vivendi's deal-making activity is part of a broader effort to
concentrate the far-flung conglomerate on a narrower lineup of
media assets that its chairman, Jean-Rene Fourtou, believes would
be better valued on the stock market. In addition to Activision
Blizzard, Vivendi's assets include French phone company SFR,
Universal Music Group, and French pay-TV company Canal Plus.
Vivendi is continuing to consider two binding offers for its
African phone operator Maroc Telecom (IAM.CL), submitted late last
month.
-Write to Sam Schechner at sam.schechner@wsj.com
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