Vivendi shares tumble on profit warning

Vivendi tumbled as much as 9.4 per cent after forecasting a profit slump through 2013 as SFR, the French wireless unit it bought out for €7.95 billion last year, faces increased competition.

1st March, 2012

Vivendi tumbled as much as 9.4 per cent after forecasting a profit slump through 2013 as SFR, the French wireless unit it bought out for €7.95 billion last year, faces increased competition.

Vivendi, owner of the world’s largest music and video-game companies, bought Vodafone Group Plc’s 44 per cent stake in SFR last June to get full control of the business. SFR is looking to cut costs to cope with falling prices and revenue after new competitor...

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