France’s Vivendi looks for North Africa expansion

French media giant Vivendi is looking to expand its presence in the Middle East and North Africa, it said on Wednesday. According to the French media group, it is currently holding talks with telecommunications companies and banks in the region in order to expand its operations.

Vivendi’s chairman Jean-Bernard Levy said in the statement that his company was working with partners and their young office and they hope to announce more partnerships within weeks and months. They were working to make it happen in a timely fashion in order to develop infrastructure projects to lay the groundwork for their expansion.

The group, which among many assets owns Universal Music and a majority stake in French pay-TV company Canal+, also holds a 53 percent share in Maroc Telecom in Morocco. In 2010, Vivendi also inked a content deal with Qatar’s Qtel through Universal Music.

According to Moroccan analyst Said Omar, the move will help buttress existing markets, especially in Morocco.

“I believe that this effort will be one that in a few years will be seen as moving the telecom industry forward in a positive manner,” he said.

The music video website Vevo is expected to launch in the Middle East by the end of June and the UK within weeks, as joint venture between Vivendi, Abu Dhabi Media and Sony Music. It is already available for the North American consumers.

By Jonathan Terry