Fitch: No change for Vivendi

Fitch Ratings said Vivendi's plan to sell its 20% stake in NBC Universal should strengthen the group's balance sheet. However, given Vivendi's recently announced acquisitions, the disposal is unlikely to impact its long-term issuer default rating and senior unsecured ratings of BBB.

The outlook is stable.

The transaction is complex, but if it goes to plan, the proceeds from the disposal of the NBC Universal stake should offset the cash Vivendi is expected to spend in coming months on the GVT acquisition, Fitch said.

The disposal would leave Vivendi in a strong financial position to continue to pursue its merger and acquisitions ambitions, the agency said.

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