Vivendi's net asset value falls to 5.5 billion euros after telecom stakes sales (updated)

Telefonica SA

12/03/2026 17:15

Updates with CEO comment, details regarding ongoing cases, earnings, job cuts in bullet points

By Leo Marchandon

March 12 - Vivendi VIV.PA on Thursday reported its portfolio of listed holdings fell to 5.53 billion euros ($6.37 billion) at end-2025 from 6.89 billion euros a year earlier after selling its stakes in Italian and Spanish telecom operators TIM and Telefónica.

It also reduced its net debt to 1.5 billion euros as of December 31, 2025 from 2.6 billion euros a year earlier.

Chairman of the Board Yannick Bolloré said in a statement that Vivendi sold the "telecoms holdings in Italy and Spain to refocus on a portfolio of activities in content, media, and entertainment"

France's AMF markets regulator on December 4, 2025 declared lapsed its earlier requirement for the Bolloré group to launch a public buyout offer for Vivendi, following a Supreme Court order for a retrial

Oral arguments in the retrial are scheduled for May 22, 2026

Vivendi's revenues, coming from fully-owned mobile games studio Gameloft, rose 4.2% at constant currency and perimeter to 303 million euros in 2025

Earnings attributable to Vivendi shareholders amounted to a profit of 20 million euros in 2025

Corporate operating costs fell by 27 million euros compared to 2024, as part of an ongoing cost-cutting drive at the group's Paris headquarters

Vivendi has initiated a collective mutual termination procedure with trade unions it said could be signed and implemented before June, without mentioning headcount reduction targets

($1 = 0.8678 euros)

 (Reporting by Leo Marchandon in Gdansk; Editing by Matt Scuffham)

 ((leo.marchandon@thomsonreuters.com))