Vivendi calls in banks for TV sell-off.(ivendi Universal S.A. to sell television assets)(Brief Article)

TV Meets the Web, September, 2002

TV MEETS THE WEB-(C)2002 Van Dusseldorp & Partners - http://www.vandusseldorp.com/

Two banks have been hired by Vivendi Universal to oversee the sale of TV assets worth approximately US$3bn (E3bn), in the next few months.

Deutsche Bank AG and Societe Generale SA have been called in by the struggling media group, after a report from Deutsche Bank pointed out that Vivendi could bankrupt within two months if changes were not made.

Vivendi plans the sale of assets worth US$10bn over the next two years in order to clear debt. Vivendi is currently negotiating the sale of the consumer press division of Vivendi Universal Publishing. ((Distributed via M2 Communications Ltd - http://www.m2.com))