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Better-than-expected results from both media and telecommunications businesses pushed Vivendi SA to bump up its full-year guidance, easing pressure on the company as it pursues a strategic review that could lead to asset sales.
Vivendi announced on Sunday that it has taken full control of SFR, the big French cellphone service provider, by buying Vodafone’s 44 percent stake in the company for $11.3 billion in cash.
A French court found former Vivendi chief executive Jean-Marie Messier guilty of misappropriation of company funds and divulging misleading information when he headed Europe's biggest entertainment group.