Homes and Property | Home Page

Vivendi stake sale welcomed

Nick Goodway12 April 2012

SHARES in British Sky Broadcasting tumbled as much as 5% today as Vivendi Universal, the American-French media giant, put its £1.7bn 13% stake in the digital broadcaster up for sale.

Rumours of the imminent sale have been circulating since last Friday, leading to a record 8% fall in the value of shares in BSkyB, 36% owned by Rupert Murdoch's News Corporation, over the past two days.

Today they dipped to 650p before bouncing back to 710p, a gain of 28p, as the share sale seemed to be welcomed by the market.

Deutsche Bank and Goldman Sachs were today given the task of selling Vivendi's stake through an accelerated bookbuilding exercise. Deutsche actually took the stake from Vivendi last October and sold a third of it.

Today's move could improve Vivendi's standing with the credit rating agencies. The book-building was expected to be completed this afternoon.

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Sign up you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy notice .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in

MORE ABOUT

Credit Rating
Deutsche Bank
Goldman Sachs
Vivendi Sa