Vivendi (VIVHY) is continuing its process of reducing the confusion created by its conglomerate corporate structure with the creation of new rules to split the strategies for its media and telecommunications businesses. This in addition to efforts to divest its large stake in Activision, should ultimately help investors to more accurately understand the inherent value of Vivendi’s various assets, and the discount in price to which the company trades at. We bought Vivendi several months ago when the stock was a few dollars cheaper and we believe that as the European crisis grudges slowly towards some type of resolution the stock should appreciate materially.
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