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Company: Vivendi (EPA:VIV)
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  Vivendi (VIV-FR)/Bulls/"Subscription gaming is a low cost, high margin business"

Subscription gaming allows Vivendi to continue to pull in revenues without high costs; developing expansions to popular online games like World of Warcraft allows companies to maintain high subscriber numbers (revenues) at low cost.

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  Vivendi (VIV-FR)/Bulls/Content distinguishes Vivendi's Canal+

Vivendi's ability to acquire exclusive content for Canal+ mixes with its offering content through every possible television platform makes the channel both desirable to watch and accessible to anyone that wants to watch it.

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  Vivendi (VIV-FR)/Bulls/Subscription gaming is a low cost, high margin business

Subscription gaming allows Vivendi to continue to pull in revenues without high costs; developing expansions to popular online games like World of Warcraft allows companies to maintain high subscriber numbers (revenues) at low cost.

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  Vivendi (VIV-FR)/Bulls/Vivendi will benefit from demand in emerging markets

Emerging markets in developing countries are creating new demand for telecommunication technologies; Vivendi is well-positioned to take advantage of this increasing demand due to its establishment in the Moroccan market.

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