Vivendi sees more value in media than mobiles

PARIS: With a portfolio of companies from mobile phone operators to record labels, the French company Vivendi may uniquely straddle the converging worlds of media and communications.

But unlike many investors who are pouring funds into mobile telecommunications, the Vivendi chief executive sees the future of the company more closely tied to the media side of the equation.

“In telecoms, the opportunities are rare, and there are no real cross-border advantages,” the executive, Jean-Bernard Lévy, said during a meeting last week with journalists. “You find the limits are quickly reached on a national level.”