Media and telecoms group Vivendi is to lose its CFO Philippe Capron to Veolia.
The utilities giant confirmed the appointment today following reports of the move last week, which neither company would comment on at the time.
Vivendi is yet to confirm…
Media and telecoms group Vivendi is to lose its CFO Philippe Capron to Veolia.
The utilities giant confirmed the appointment today following reports of the move last week, which neither company would comment on at the time.
Vivendi is yet to confirm the departure of Capron, who will become Veolia’s CFO in January.
Capron’s resignation comes ahead of a planned spinoff or IPO of its French mobile unit SFR, which could happen early next year. Societe Generale and Citigroup are advising Vivendi on a potential transaction.
Vivendi is looking to dispose of its telecom assets over time to focus on its media business.
The French conglomerate made further progress in this direction earlier in the week after it agreed to sell its 53% stake in Maroc Telecom to Etisalat for €3.9bn (US$5.3bn). Vivendi expects to complete the sale by early 2014.
