Vivendi faces Bourse investigation.

Financial News, July, 2002

French market regulators have opened an inquiry into financial information issued by Vivendi since January 2001, it emerged Tuesday.In a brief statement confirming the investigation, the stock market watchdog Commission des Operations de Bourse (COB) said: 'Investigators, according to established procedures, have begun onsite verification of documents.'

The inquiry comes as a further blow to the embattled media giant which, in a rare piece of positive news, was said to have been thrown a [euro]1bn ($991m) lifeline by its bankers Tuesday. The company, fighting to stave off bankruptcy, was working last night to negotiate further bank facilities, sources close to the discussions said.

The terms of the [euro]1bn loan, believed to have been granted by a...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.