no_free_lunch Posted February 14, 2021 Share Posted February 14, 2021 Are you calculating the value of UMG or Vivendi? Vivendi should have 10+b euro value after the spinoff from remaining assets. In general, it's good to see bollore unlocking value. I will have to look at them again. Link to comment Share on other sites More sharing options...
Spekulatius Posted February 14, 2021 Share Posted February 14, 2021 Post this value unlock, I have to figure what to do with my Vivendi shares, maybe move back to ODET? I bought Vivendi precisely because I wanted to own UMG very cheaply and once that is accounted for, the remainder of the business in Vivendi looks pretty mediocre. Decisions, decisions... Link to comment Share on other sites More sharing options...
pocoapoco Posted February 14, 2021 Share Posted February 14, 2021 Post this value unlock, I have to figure what to do with my Vivendi shares, maybe move back to ODET? I bought Vivendi precisely because I wanted to own UMG very cheaply and once that is accounted for, the remainder of the business in Vivendi looks pretty mediocre. Decisions, decisions... Same for me I’m wondering if the fact the shares will trade in Amsterdam will take some of the wind out of them. If they traded in the US then maybe they could trade at a premium. Also, I’m assuming foreign holders (I use IB) will get the shares on the Amsterdam exchange. Link to comment Share on other sites More sharing options...
dbm Posted February 15, 2021 Share Posted February 15, 2021 Are you calculating the value of UMG or Vivendi? Vivendi should have 10+b euro value after the spinoff from remaining assets. In general, it's good to see bollore unlocking value. I will have to look at them again. That should be only UMG: for Bolloré, something like 80% * €30bn * 29% stake / 1.35bn effective shares, or ~€ 5.15 / share. I may be a little wrong on Bolloré stake in Vivendi after all the buybacks, or the effective shares, but probably not by much. That´s right, you still have 29% of €10bn+ of Vivendi RemainCo plus the wholly-owned businesses. Less net debt and whatever holding/tax friction/governance discount you may want to apply. Link to comment Share on other sites More sharing options...
drzola Posted February 15, 2021 Share Posted February 15, 2021 Vivendi and Bollore both rallying on Euro markets fyi. Link to comment Share on other sites More sharing options...
dbm Posted March 10, 2021 Share Posted March 10, 2021 ODET bought 900k shares of Vivendi on March 4. I am not sure, but I think it may have a tax advantage against the rest of the market at the spinoff/dividend due to the larger than 5% stake. But don’t ask me why buying through ODET instead of BOL :P Link to comment Share on other sites More sharing options...
jefke Posted March 10, 2021 Share Posted March 10, 2021 But don’t ask me why buying through ODET instead of BOL :P Maybe there's more going on, but iirc ODET reported net cash for Q4 20 in the beginning of March. BOL has about €4bn net debt Link to comment Share on other sites More sharing options...
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