Vivendi: What's Left Of The Company After Split

Summary

• Vivendi's split into four entities aims to eliminate the "conglomerate discount" and unlock shareholder value by focusing on distinct business segments.
• Post-split, Vivendi retains minimal assets, with Gameloft and a 10% stake in Universal Music Group being notable holdings.
• The new entities, Canal+, Havas, and Louis Hachette Group, have experienced significant volatility since trading independently.
• Despite the split, I find Vivendi unattractive for investment and prefer to wait for stability before considering any of the spinoffs.