Vivendi CFO: Sees Net Debt At Around EUR8 Billion At End Of 2008
Thursday November 13rd, 2008 / 18h52
PARIS -(Dow Jones)- -Entertainment and telecom group Vivendi SA (12777.FR) expects its net debt to stand at around EUR8 billion at the end of 2008 and to fall to around EUR6 billion by the end of 2009, Chief Financial Officer Philippe Capron said Thursday. The forecasts exlude the impact of possible acquisitions and a planned $1-billion share buyback by Activision Blizzard Inc. (ATVI), of which Vivendi is the majority shareholder, Capron told a conference call. Capron said that Vivendi's French telecom division SFR is still targeting cash synergies of around EUR250 million to EUR300 million by the end of 2011 from its acquisition of fixed and broadband operator Neuf Cegetel. In 2008, SFR's fixed and broadband activities should generate earnings before interest, tax, depreciation and amortization, or Ebitda, of EUR460 million to EUR470 million, Capron said. Company Web site: www.vivendi.com -By Jethro Mullen, Dow Jones Newswires; 33 1 4017 1738; jethro.mullen@dowjones.com Order free Annual Report for Vivendi Universal SA Visit http://djnweurope.ar.wilink.com/?ticker=FR0000127771 or call +44 (0)208 391 6028 Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=1bP0hrf3cEF8XItNaEuUZQ%3D%3D. You can use this link on the day this article is published and the following day.
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