Feeds

Vodafone buys out Vivendi stake in Vizzavi

Not cheap

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

Vodafone has confirmed the purchase of Vivendi's 50 per cent stake in mobile portal Vizzavi for the remarkably munificent sum of € 163;142.7m cash.

Presumably the funding was constructed as a loan - we infer this from the following Vodafone statement: "Following the acquisition,
Vizzavi has no further indebtedness outstanding to Vivendi." But surely Vodafone could have squeezed a better price. And why did it let Vivendi hang on to Vizzavi France?

Vivendi last month confirmed its intention to renege on its funding commitments for the spectacularly loss-making business - remember Vizzavi is one of the biggest start-ups ever, which was supposed to capitalised at €1.5bn. And Vivendi is a forced seller.

The stricken French conglomerate owes billions of dollars following its acquisition charge into the entertainment and media sectors in the late 90s/ beginning of the noughties. And now its in a fire sale - pay TV arms Canal Plus in France, and Tele Piu in Italy are on the block, even Universal Studios could be hived off.

Vodafone maintains that Vizzavi is meeting its targets and is on course for profit. We'd sure like to see those targets.

Vizzavi has been in cost-cutting mode for much of the year, with wholesale lay-offs at its European HQ in London, and the closure of its fixed line ISP.

Remote control for virtualized desktops

Whitepapers

10 ways wire data helps conquer IT complexity
IT teams can automatically detect problems across the IT environment, spot data theft, select unique pieces of transaction payloads to send to a data source, and more.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Choosing a cloud hosting partner with confidence
Download Choosing a Cloud Hosting Provider with Confidence to learn more about cloud computing - the new opportunities and new security challenges.