▁The ▁moves ▁have ▁allowed ▁Viv endi ▁to ▁rapidly ▁pay ▁down ▁deb t ▁and ▁increase ▁c ash ▁returns ▁to ▁share hold ers ▁while ▁leaving ▁it ▁with ▁am mun ition ▁to ▁do ▁ac quis itions ▁of ▁its ▁own . ▁Indeed , ▁once ▁the ▁S FR ▁deal ▁clos es , ▁Viv endi ▁will ▁have ▁a ▁c ash ▁p ile ▁of ▁around ▁€ 5 ▁billion , ▁leaving ▁it ▁with ▁some ▁room ▁to ▁man eu ver ▁even ▁after ▁it ▁pays ▁down ▁deb t ▁and ▁returns ▁nearly ▁€ 5 ▁billion ▁in ▁divid ends ▁and ▁share ▁buy back s ▁to ▁share hold ers . ▁ ▁Viv endi ' s ▁priority ▁is ▁now ▁content . ▁The ▁French ▁group ▁is ▁expected ▁to ▁expand ▁its ▁assets ▁in ▁the ▁content ▁indust ries ▁in ▁the ▁coming ▁year . ▁ ▁In ▁ 2 0 1 4 , ▁Viv endi ▁decided ▁to ▁sell ▁mobile ▁companies ▁S FR ▁( France ) ▁to ▁Patrick ▁Dra hi ' s ▁company , ▁Alt ice , ▁and ▁G V T ▁( B raz il ) ▁to ▁the ▁Brazil ian ▁company ▁Tele f ô nica ▁V ivo . ▁ ▁On ▁ 2 8 ▁May ▁ 2 0 1 4 , ▁Viv endi ▁sold ▁half ▁of ▁its ▁remaining ▁shares ▁( near ly ▁ 4 1 . 5 ▁million ▁shares ) ▁in ▁Activ ision ▁Bl izz ard ▁for ▁$ 8 5 0 ▁million , ▁reducing ▁its ▁st ake ▁to ▁ 6 %. ▁ ▁In ▁April ▁ 2 0 1 5 , ▁it ▁was ▁announced ▁that ▁a ▁share holder ▁in ▁the ▁company ▁B oll or é