LEX The Vivendi deal machine is being put through its paces again. Jean-Bernard Lévy, chief executive of the French media to telecoms conglomerate, is embroiled in transactions on at least three continents, possibly more.
The deal du jour, in his own Gallic backyard, is a sensible tidying up exercise. The purchase of a 10 per cent stake in Canal Plus France from broadcaster TF1 for €774m takes Vivendi’s interest in the pay-television operator to 75 per cent, with little impact on the company’s gearing.
