Vivendi SA News

They currently have a $22.00 price target on the stock. Zacks ' analyst wrote, "We are downgrading our recommendation to Underperform on Telefonica Brasil.

France's new mobile phone operator Iliad has signed up 2.6 million customers to take 3.7 percent of the market since launching its ultra low-cost offers in mid-January, a pace unprecedented among new mobile entrants in Europe.

Vivendi SA reported first-quarter profit that beat analysts' estimates on growth at the music division and as earnings held up at French wireless unit SFR amid intensifying competition.

A price war in the French mobile-phone market is weighing on companies' performance in the sector, as Vivendi SA warned that a "price reset" to stem subscriber losses will have a bigger impact in coming quarters.

Vivendi SA plans to reduce operating expenses at its SFR mobile-phone unit by as much as 450 million euros this year through firings, cuts in marketing spending and renegotiating contracts with call centers, according to two people with knowledge of the matter.

French industrialist Vincent Bollore, who has become one of Vivendi's largest shareholders, said on Thursday that he was confident the management of the entertainment-to-telecoms group could solve its current problems and weak share price.

Vivo is controlled by Brasilcel NV, a joint venture between Portugal Telecom and Telefonica SA.

Vivendi SA would stand to boost the lowest valuations of Chief Executive Officer Jean-Bernard Levy's seven-year tenure by breaking up businesses ranging from phone providers to video games and pay television.

Vivendi named Michel Combes, an industry veteran who is currently head of Vodafone's European business, to lead its French mobile operator, SFR, as it struggles with brutal competition from a new low-cost mobile player.

Vivendi named Michel Combes, an industry veteran who is currently head of Vodafone's European business, to lead its French mobile operator, SFR, as it struggles with brutal competition from a new low-cost mobile player.