Vivendi confirms publishing sell-off

<p>The future of Vivendi Universal Publishing was in the balance today (25th September) as parent Vivendi Universal weighed up three offers for the business. Jean-Rene Fourtou, VU chairman and chief executive, confirmed that the publishing arm would be sold as part of a move to raise &#8364;12bn (&#163;7.5bn) over the next 18 months. VU notched up debts of &#8364;35bn (&#163;21.9m) in a massive acquisition spree under Fourtou's ousted predecessor Jean-Marie Messier. Although VU was given some breathing space last week by a &#8364;3bn (&#163;1.8bn) bank credit line, it must raise cash fast. ...

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