Date: 6th December 2000

Vivendi & Seagram Move Closer To Uniting

Vivendi and Seagram shareholders on Tuesday overwhelmingly backed Vivendi's purchase of Seagram, bringing the merger of the two companies close to completion.

The deal must still be ratified by shareholders of Canal Plus, Vivendi's French pay-TV company, which will also become part of the merged company. Moreover, the Ontario, Canada Superior Court of Justice must approve the deal. Those final hurdles are expected to be cleared by the end of the week.

On Dec. 11, Vivendi shares are due to be delisted from the Paris and New York stock exchanges, while Seagram shares will be delisted on the Toronto and New York exchanges. On the same day, Vivendi-Universal will begin trading in Paris and New York.

Source: Studio Briefing