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Vivendi lowers outlook for 2017 revenues, EBITA

Reuters

PARIS (Reuters) - Acquisitive French media conglomerate Vivendi (VIV.PA) on Thursday trimmed its revenue and core earnings (EBITA) forecasts for 2017.

The group said in a statement it expected revenues to increase close to 5 percent in 2017, compared with a previous forecast of more than 5 percent. It did not explain the change.

It said EBITA (earnings before interest, tax and amortisation) would rise between 20 and 25 percent, compared with a November estimate of around 25 percent. It said the revision was down to a 40 million euro (£35.6 million) restructuring cost at its Canal+ Group unit.

(Reporting by John Irish and Benjamin Mallet; Editing by Mark Potter)