Vivendi Universal has agreed to sell its non-US publishing assets to Lagardere for E1.25 billion. The deal, which is subject to regulatory approval, will ensure that respected publications such as the Chambers and Larrousse reference books remain in French hands.
Profits from the latest sale are likely to be directed at reducing Vivendi’s E19 billion debt burden but could also be used in an attempt to gain control of Cegetel. Vivendi is currently considering whether to counter an attempt by Vodafone to buy out the telecoms company’s other shareholders (see Vivendi Seeks New Funds For Cegetel Bid).