Vivendi plans dividend, share buyback after selling rest of SFR

Paris

FRENCH media group Vivendi will reward shareholders with a share buyback and a generous dividend after agreeing to sell its remaining stake in telecoms group SFR to cap two years of asset sales.

Vivendi said last Friday that it will sell its 20 per cent stake in Numericable-SFR to billionaire Patrick Drahi, who will carry out the 3.9 billion euro (S$5.94 billion) purchase via his holding company Altice and Numericable-SFR itself.