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Zut alors! C’est un deal pour Vivendi...

Vivendi is clearly feeling confident. The French telecoms and media company has a new CEO since August. It has managed to damp down – for now – investor expectations of a break-up of its varied assets. And last week it issued a €700m seven year bond at just 130bp over mid-swaps – little more than half the spread it paid on its deal in January.

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