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NEW YORK — Vivendi Universal on Wednesday signalled its intention to focus on its core media and entertainment interests in a series of moves following last week’s $2.2 billion acquisition of U.S. educational publisher Houghton Mifflin Co.
Vivendi Uni said it has sold its 9.9% stake in Havas Advertsing SA to institutional investors. Havas also bought back about 3 million shares, or about 10% of the total Vivendi stake.
Separately, French newspaper Les Echos said Vivendi Uni has hired investment banks Lazard Llc.
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