Feeds

Vodafone buys out Vivendi stake in Vizzavi

Not cheap

  • alert
  • submit to reddit

Choosing a cloud hosting partner with confidence

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.

Providing a secure and efficient Helpdesk

More from The Register

next story
Sea-Me-We 5 construction starts
New sub cable to go live 2016
Crouching tiger, FAST ASLEEP dragon: Smugglers can't shift iPhone 6s
China's grey market reports 'sluggish' sales of Apple mobe
EE coughs to BROKEN data usage metrics BLUNDER that short-changes customers
Carrier apologises for 'inflated' measurements cockup
Comcast: Help, help, FCC. Netflix and pals are EXTORTIONISTS
The others guys are being mean so therefore ... monopoly all good, yeah?
Surprise: if you work from home you need the Internet
Buffer-rage sends Aussies out to experience road rage
EE buys 58 Phones 4u stores for £2.5m after picking over carcass
Operator says it will safeguard 359 jobs, plans lick of paint
MOST iPhone strokers SPURN iOS 8: iOS 7 'un-updatening' in 5...4...
Guess they don't like our battery-draining update?
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.