Financial rescue of Vivendi hindered by probe.(Brief Article)

EuropeMedia, July, 2002

EUROPEMEDIA-(C)2002 Van Dusseldorp & Partners - http://www.vandusseldorp.com/

Vivendi Universal's financial rescue was looking doubtful on Tuesday following the launch of a wide-ranging probe into the media group's accounts by the French stock market regulator, La Commission des Operations de Bourse (Cob). It is thought that the dramatic development could hinder attempts by the new chief executive, Jean-Rene Fourtou, to secure E3.8bn in emergency funding for the group.

The Cob began a search relating to big transactions since January 2001 when it arrived in Vivendi's Paris offices on Tuesday.

Prior to the involvement of the Cob, BNP Paribas, Societe Generale and Deutsche Bank, Vivendi's main creditors, had agreed an initial E1bn...

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