Offer for Vivendi Holding Boosts Stock
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Vivendi Universal’s long-suffering investors rallied behind the company’s stock after the Paris conglomerate received a $6.7-billion offer from Britain’s Vodafone for its 44% stake in French telecom operator Cegetel.
Vivendi shares rose $1.39, or 11%, to $14.55 on the NYSE.
Meanwhile, Standard & Poor’s removed a credit watch on Vivendi’s short-term credit rating. The firm cited financing Vivendi recently got.
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