UBS reiterates its buy recommendation on the share with a target price of E15.5 after providing more details on the proposed demerger of the businesses (Canal+, Havas and Louis Hachette Groupe) and the timetable for completion.

Vivendi's management believes that the demerger of the separate listed assets is feasible under satisfactory conditions, with a decision possible by the end of October 2024', says the research firm.

This operation will only take place if it receives the approval of two-thirds of shareholder votes at the December general meeting. To date, no regulatory approvals have been identified as being necessary for this project to go ahead.

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