More assets sales on the horizon for Vivendi Universal

15 Jan 2003

According to analysts, French media group Vivendi Universal has failed to raise enough capital to restore its credit rating to investment grade status. The company has sold EUR6.8 billion worth of assets since July but both Moody’s and Standard & Poor’s have said without further disposals they may downgrade the firm even further later this year. Vivendi CEO Jean-Rene Fourtou aims to sell EUR16 billion of assets by 2004 to cut debt to around EUR6.4 billion.