Vivendi CFO: Sees Net Debt At Around EUR8 Billion At End Of 2008

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Lundi 09 nov 2009 | 07:03:14

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Vivendi CFO: Sees Net Debt At Around EUR8 Billion At End Of 2008

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
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(END) Dow Jones Newswires
November 13, 2008 12:52 ET (17:52 GMT)