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Havas CEO Announces AI Investment, Comments On Vivendi Breakup

COMMUNICATIONS

Vivendi Rating: Baa2


  • FT reports that Havas is to invest EUR 400mn in AI and data initiatives over 4 years as they prepare to split from Vivendi.
  • Havas CEO said the initial work on the Vivendi break up is progressing ahead of a potential IPO next year as part of Vivendi seeks to address a 45% conglomerate discount.
  • “There are no major obstacles right now” in reference to submitting final plans to the supervisory board which would decide in the coming months
  • Split requires two-thirds shareholder approval; Bolloré family holds 30%.
  • Also noting that sister company Lagardere last week refinanced EUR 1.9bn in Vivendi loans, repaying EUR 1.3bn of the debt and securing additional facilities with parent Vivendi.
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