Vivendi: UBS still a buyer

(CercleFinance.com) - The broker confirms its Buy recommendation on the stock, with an unchanged target price of E15.
5, representing upside potential of 55%.

Canal+ has announced that it has entered into a cooperation agreement with Multichoice Group, and will offer ZAR 125/shr, UBS says.

The media and entertainment group says it is confident about the success of the offer, the price of which far exceeds the regulatory minimum of around ZAR 105.

Canal+ emphasizes that MultiChoice shareholders will benefit from a premium of 66.66% compared with the closing price of 75 rand on 1 February, i.e. prior to the announcement of its non-binding indicative offer.


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