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16/10/2000
VIVENDI GROUP SELL HOLDING IN BSKYB
VIVENDI the franchise media and telecoms group have agreed to sell their 22.7 per cent holding in BSkyB.
The share sale has been made in order that Vivendi can receive approval for their £66 billion merger with Canada’s Seagram.
The merger will create Vivendi Universal, which will be one of Europe’s largest media groups. The business will span across mobile phone networks, the Universal Hollywood studios, Universal Music, Internet portals and pay-per-view television in Europe.
A BSkyB spokesman said: “Vivendi has been a very supportive shareholder over the past year. BSkyB now intends to enter into discussions with Vivendi with a view to ensuring an orderly disposal of their stake. Any disposal has no effect on the fundamental business success of BSkyB.”
The share sale has been made in order that Vivendi can receive approval for their £66 billion merger with Canada’s Seagram.
The merger will create Vivendi Universal, which will be one of Europe’s largest media groups. The business will span across mobile phone networks, the Universal Hollywood studios, Universal Music, Internet portals and pay-per-view television in Europe.
A BSkyB spokesman said: “Vivendi has been a very supportive shareholder over the past year. BSkyB now intends to enter into discussions with Vivendi with a view to ensuring an orderly disposal of their stake. Any disposal has no effect on the fundamental business success of BSkyB.”
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