Baupost Group Reduces Vivendi Stake ~ market folly

Monday, April 22, 2013

Baupost Group Reduces Vivendi Stake

Seth Klarman’s Baupost Group has reduced its holding in Paris listed media conglomerate, Vivendi  (PAR: VIV). According to Vivendi’s 2012 Annual Report, Baupost trimmed their position from a year  earlier from 2.04% to 1.38% of voting rights or from 25.5 million shares down to 18.22 million shares. 

Per Google Finance – “Vivendi SA is a France-based company engaged in telecommunications  services and media entertainment. The Company operates six core subsidiaries: Activision Blizzard,  a publisher of online and console games; Universal Music Group, a recorded music company;  SFR, a French telecommunications operator; Maroc Telecom Group, a mobile and fixed-line and  Internet operator in Morocco, active also in Burkina Faso, Gabon, Mauritania and Mali; GVT, a  telecommunications operator in Brazil; and Groupe Canal+, a subsidiary which offers premium  and theme channel distribution and programming in France. In addition, it holds stakes in See  Tickets (the United Kingdom), Vivendi Mobile Entertainment (France), Wengo (France) and  Elektrim Telekomunikacja (Poland). In February 7, 2013, it announced a definitive agreement to sell  Parlophone Label Group, a unit of EMI Recorded Music, to Warner Music Group.”

For more on this hedge fund, we've detailed some of Baupost Group's recent portfolio activity here.

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