Vivendi: Oddo reiterates buy rating with new management boar

(CercleFinance.com) - Vivendi yesterday announced that its supervisory board had appointed a new management board as of 23 June.

Arnaud de Puyfontaine remains chairman. The composition of the management board changes - only one current member - Frédéric Crépin - remains.

Analysts note that the new composition of the Management Board is much more operational and closer to the group's businesses. We also note that members historically close to the Bolloré group are leaving the body, Oddo said.

The creation of an executive committee also confirms this desire for a much more operational and less corporate role. This type of change probably illustrates a change in philosophy at Vivendi with the desire to focus the company more on its businesses and synergies.

Oddo believes that this could eventually confirm the idea of a merger between Bolloré and Vivendi.

With this in mind, Oddo reiterates its Outperform rating on Vivendi shares, maintaining its target price at 13.6 euros (current price almost 11 euros, up just over 1%).



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