Focus and natural ownership drive asset sales

Rationale to recent asset sales:

• Vivendi sells Maroc Telecom to Etisalat: sector focus for Vivendi and Etisalat is probably more of a natural owner of this asset.
• Deutsche Telekom to sell Scout24: not the natural owner.
• Telefonica sells O2 Ireland to 3 Ireland and Telefonica CR to PPF: geographic focus for Telefonica, reduce debt.
• Hrvatski Telekom sells infrastructure to Ericsson: operational focus (on services), reduce debt.
• Liberty Global sells Chellomedia to AMC Networks: operational focus (on broadband), away from content.
• Tele2 sells fixed-line network in Sweden to Telenor: operational focus (on mobile).