The opening price was in line with the price in unofficial trading earlier in the day. A dealer in Paris had said earlier: "This share is not worth much today because Vivendi has said it will convert a large number of convertible shares into new shares, so a lot of paper has come onto the market."

The issue price was set at 32.5 euros for individual investors. On Thursday last week Vivendi had issued a price range of 33.0-36.0 euros, from an initial target range of 36.0-41.0 euros. The price for institutional investors was 34.0 euros.