Yesterday's meeting of the top blokes at Vivendi Universal decided to put off the decision of who to sell their non-music entertainment companies too so they can "enter into further negotiations with the two strongest bidders and continue to investigate an IPO for VUE, which would take place after the implementation of strategic alliances aimed at strengthening its television activities." Those further negotiations may not lead to much, however, if the New York Post is to be believed. They reckon one of the two strongest bids - that led by Edgar Bronfman Jr – is considering bailing out because the Vivendi crew are taking just too long to consider their next move. This may be bad news for Vivendi's creditors because the only other deal on the table – that proposed by GE/NBC – offers lots of potential and investment but not much actual short term cash. Where next? Time will only tell.
Aug 28, 2003
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1 min read
Vivendi delays decision on sale of non-music entertainment assets
Vivendi Universal has postponed deciding who will buy its non-music entertainment companies, while Edgar Bronfman Jr reportedly considers pulling out and the GE/NBC bid offers less short-term cash.